26th May 2015
Ryanair has posted a 66% rise in annual profits, beating analysts’ predictions.
Net profits over the year to the end of March grew to €867m or £614m.
The budget airline’s drive to improve the experience of flyers under the banner “Always Getting Better”, helped it to attract millions of new customers, its chief executive Michael O’Leary said.
Falling oil prices also helped bring down fuel costs and boost profitability.
O’Leary says: “Our AGB programme is transforming our customer experience, our service, and the way we listen and respond to our customers.
“We have won substantial traffic and share gains in all markets.”
Passenger numbers increased by 11% to 90.6 million customers and to meet this demand the airline has ordered 183 Boeing 737-800 planes for delivery from 2014-18 plus200 Boeing 737 Max 200s from 2019-2023.
The company says its new planes will be 18% more efficient to operate than its existing fleet.