Ryanair profit rise

The ‘be nice’ campaign by the ‘enfant terrible' of the airline world, Ryanair, seems to be paying off.  The Dublin-based airline has raised its full-year profit forecast to the €620m – €650m range.  The airline last said its first-quarter profit more than doubled to €197m.

Ryanair said that fares were likely to fall in the second half of its financial year, as rivals compete more aggressively on price.

Europe's largest budget airline now lets passengers choose their seats (for a fee), has eased restrictions on hand luggage and reduced penalty charges.  Passengers who were abandoning the airline in droves are now returning.

In explaining the much improved position Michael O’Leary, Chief Executive, was full of expletives as ever, even talking about “The road of the Millwall strategy” referring to the South London football club.  This will not be seen as productive in SE1 where the football club, rather like Ryanair, is trying to promote a softer image.

Ryanair is still in rapid expansion mode, and plans to raise winter season seat capacity by 8%.  It will receive the first of 180 new Boeing aircraft in September.  O’Leary said that a low-cost transatlantic operation soon was doubtful, and confirmed an interest in Cyprus Airways, but debt clear, an unlikely happening.   www.ryanair.com

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