Passenger growth pushes up profits at Ryanair

Lamar Ellis | 01 June, 2017, 00:59

Despite challenges such as Brexit and the recent influx of terror attacks, Ryaniar has said that passenger numbers are rising and they posted a record high profit of £1.14bn.

The previous year fares dropped 13 per cent.

Irish no-frills carrier Ryanair charted a course to higher profits a year ago, despite tough trading on the back of Britain's shock Brexit vote, it said Tuesday.

The Irish airline said on Tuesday that it grew profits after tax by 6 per cent to €1.316 billion in the 12 months to March 31st and announced plans to return €600 million to investors through a share buy-back scheme.

"I take comfort from the fact that we can increase profit in a year where fares fall by 13 percent", Chief Executive Michael O'Leary told analysts.

However, that guidance had been lowered in October from a range for between €1.375bn to €1.425bn. Revenue edged up 2 percent to €6.65 billion.

O'Leary said the increase in profits for the year to the end of March had been achieved "despite hard trading conditions", including a series of security events in Europe, a sharp decline in sterling and the switch of charter capacity from north Africa, Turkey and Egypt to mainland Europe. The increase in ancillary revenue to 27 percent of the total was driven by a solid performance in reserved seating, priority boarding, vehicle hire and on-board sales, the airline said.

The low-priced Irish airline earned a net profit of more than 1.3 billion euros a year ago, even though fares were discounted by an average of 13 percent.

That will see its average fares fall by around 5 percent over the key summer months, likely putting pressure on rivals.

This is partly as a result of the weak pound and the last financial year's fares, fell as much as 13 per cent.

As legacy competitors in Italy, Germany, Romania, and Poland undergo deep restructuring, the scale of Ryanair's airport growth negotiations is accelerating.

In London, Ryanair shares were trading at 17.74 euros, down 1.50 percent.

"We continue to juggle more opportunities for 2018 and 2019 than our existing fleet growth can accommodate", the airline said.

On the issue of Brexit, the carrier states it its concerned with the "significant uncertainty" surrounding flights between the United Kingdom and European Union from March 2019, as it awaits clarity on Britain's future trading relationship with the EU.

Scott Pelley out at 'CBS Evening News'

Kellogg shutters distribution centers, lays off workers

01 June 2017

Intel's Compute Card could redefine pocket PCs
Other partners now working on solutions, but not yet in a position to display their work, include Dell, HP and Lenovo. Despite its small size, there's enough space to fit one of four Intel processors , from a Celeron up to a Core i5.

Portland mayor wants 'Trump free speech' rally cancelled after attack
Local media say the suspect in the stabbing, Jeremy Joseph Christian , has been identified as a white supremacist . It featured Kyle Chapman, who described himself as an American nationalist and ardent supporter of Mr Trump.

31 May 2017

Trump repeats criticism of Germany, Merkel stands by position
Beyond policy issues, his shoving of the Montenegrin prime minister and macho handshakes with Macron deepened the skepticism. Trump has vowed to walk away from the historic Paris deal while Merkel supports the agreement.
31 May 2017

Cleveland fires 1 officer, suspends 2nd in Tamir Rice shooting
He resigned after six months from that police force after being deemed unfit to serve as a police officer. He said both officers were disciplined for violating department rules. "There's a 12-year-old kid dead.

Numis Securities Ltd Reaffirms Buy Rating for Helical PLC (HLCL)
It dropped, as 48 investors sold Paypoint plc shares while 91 reduced holdings. 88 funds opened positions while 331 raised stakes. The stock of Admiral Group plc (LON:ADM) earned "Underperform" rating by Macquarie Research on Thursday, January 12.

31 May 2017

Pope: More Christian martyrs today than in ancient times
State television cited the health minister as saying the attack, which prompted widespread global condemnation, killed 28 people. The attack came after church bombings in December and April claimed by Daesh that killed dozens of Egypt's Coptic Christians .
01 June 2017

LeBron James' Los Angeles home vandalized with racial slur
At this time, it is yet to be determined if the incident at James' home will be investigated as a hate crime or just vandalism. James is set to play in the NBA Finals , which begin Thursday between his Cleveland Cavaliers and the Golden State Warriors .

31 May 2017

Uber fires autonomous car researcher involved in lawsuit
Uber had been asking Levandowski to assist with the internal investigation for months, according to a company spokesperson. The lawsuit also claims that Uber's self-driving cars use LiDAR that is directly copied from Waymo's technology.

Police make fresh arrest over Manchester bombing
In addition, the BBC reported that the authorities received at least three warnings about Abedi's intentions since January. They also reported that people who knew Abedi raised concerns years before he carried out the attack.
Fake media prevent Americans from hearing real story
On that topic, Trump tweeted Sunday night: "I suggest that we add more dollars to Healthcare and make it the best anywhere". The newspaper cited anonymous US officials who were briefed on intelligence reports on intercepted Russian communications.

Israeli govt meeting near Jerusalem site angers Palestinians
The status of Jerusalem is among the most sensitive issues of the Israeli-Palestinian conflict. The nearby Western Wall is the holiest site where Jews can pray.

31 May 2017

Justices will hear Ohio appeal over purging voter rolls
If the notice is ignored and the voter fails to update a registration over the next four years, the registration is canceled. Court of Appeals for the 6th Circuit disagreed previous year , ruling 2 to 1 in favor of the plaintiffs.

Canada's Economic Growth Triples U.S.'s However, most analysts expect the current rapid pace of economic growth to slow in the coming quarters. Economists were projecting a 4.2 percent first-quarter annualized pace and 0.2 percent gain in March.

Kellogg shutters distribution centers, lays off workers It's also shutting down a distribution center in Memphis, Tenn., eliminating 172 workers. Other closings include centres in Houston and Fort Worth, Texas, affecting 420 workers.

Scott Pelley out at 'CBS Evening News' CBS News has not issued a statement regarding the rumors, but the network is expected to make a formal announcement on May 31. Pelley thanked his Evening News colleagues for six years with the broadcast.

Strong to Severe Thunderstorms Possible This Afternoon The agency says heavy rain and large hail could pelt the region and strong winds could gust up to 90 kilometres an hour. The National Weather Service has issued a Severe Thunderstorm Watch for ALL of western MA until 9pm.

Wenger Not Sure of Future Despite FA Cup Victory Despite being a man down Chelsea did not give up the chase, and with 15 minutes to go Costa levelled the match. The Chilean provided Arsenal with an early, game-changing opener in highly controversial circumstances.

Android Pay is now available in Canada Rumor was that Android Pay would be arriving in Canada before the end of May, and sure enough that turned out to be the case. For online purchases Android Pay works with such apps as Lululemon, Uber, Ritual, and HotelTonight - among many others.

Putin meets Saudi Prince after oil production cuts deal extension But agreeing on Syria remains hard and neither Prince Salman nor Mr Putin offered any breakthroughs on Tuesday. The two hydrocarbon producing giants have found common ground, however, in their cooperation on oil.

Russians warned against visiting UK over terror threat It's been downgraded on the advice of security services from "critical" to "severe", meaning an attack is still highly likely. However, the threat level remains severe and there will still be significant numbers of armed police on our streets.

Huddersfield Town win EFL Championship in penalties, move up to Premier League David Wagner will be on the phone to Jurgen Klopp once the enormity of Huddersfield's rise to the Premier League sinks in. Wagner took over in November 2015 as the first manager of the club to be born outside the British Isles .

A look at what minimum-wage workers get paid across Canada Providing seven paid sick days for all workers separate from Personal Emergency Leave. The government plans to raise it every year along with the rate of inflation.

McConnell juggling diverse demands on Republican health bill Donald Trump is either blithely unaware of these things or simply doesn't care. The House is - and was created to be - a majority-rule entity.

Christy Clark to stay on as BC premier Liberals' discussions with the Greens for support in the minority parliament. "We're going to work together on this", said Weaver. The Liberals won the most seats, but were unable to persuade the Green party to back them in a minority government.

Reds vs. Blue Jays Prediction Adam Duvall homered for the Reds (24-26) in the sixth inning and has five homers in his past five games and 14 for the season. Cincinnati leadoff man Billy Hamilton used his blinding speed to score the game's opening run in the first inning.

UK PM May says prepared to leave European Union without a Brexit deal You don't address these problems by ignoring them. "I am not a dictator", Corbyn said in one his best lines of the night. The Labour leader said it was "not right and not fair" for his family to be subjected to the scrutiny.

Sonic Mania Coming August 15; Pre-orders Beginning Now It also has a new trailer with equal parts lovely sketch animations, nostalgia-laden pixel art, and some rad chiptune rock. Sonic Mania is Sega's best chance at truly recapturing the magic that was seen in the 2D Sonic classics.

Passenger growth pushes up profits at Ryanair

Recommended