September 2022, Virtual
September 29 2022, Virtual
Now in its 27th year, the Business Travel Awards
No-frills carrier Ryanair expects average fares to fall 6 per cent in the next quarter as it passes on savings from lower fuel costs to passengers.
It said the reduction in global oil prices means it can “deliver savings” in major markets including the UK, France, Germany and Spain.
The announcement follows the airline’s quarterly financial update which saw profits jump 110 per cent and passenger numbers grow 20 per cent.
For the three months ending December 31, Ryanair reported profits of €110 million compared to the same period the previous year and carried 24.9 million passengers.
However, CEO Michael O’Leary said traffic and revenue was hit immediately after the terrorist attacks in Paris and Brussels.
Ryanair said it expects to deliver double digit growth in the final quarter of the financial year in countries including Ireland, UK, Spain, Italy and Portugal.
The airline also announced its first flights at Tolouse Blagnac airport in France, with seven routes to London Stansted as well as Berlin, Madrid and Warsaw. The flights will start from November.
Seven routes: Madrid (2 x daily), Brussels (daily), London (daily), Berlin (4 weekly) and Warsaw (2 x weekly).
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