Ryanair has seen its profits rise due to strong bookings in the run-up to Christmas.
The no-frills airline made a pre-tax profit of €19.3 million in the three months to the end of December 2012 – an increase of 24.5 per cent on a profit of €15.5 million for the same period in 2011.
Ryanair was boosted by a 3 per cent rise in passengers to 17.3 million during the quarter while revenue rose 15 per cent to €969 million.
The airline said that average fares were up by 8 per cent during the three-month period while ancillary revenue increased to 24 per cent per passenger to €13 per passenger.
Ryanair’s financial year finishes at the end of March – the airline has made a pre-tax profit of €698.6 million for the first nine months of this year, an increase of 10 per cent on the same period in the previous year.
Chief executive Michael O’Leary said: “Our third quarter profit of €18 million was ahead of expectations due to strong pre-Christmas bookings at higher yields.
“The 8 per cent rise in average fares reflects our improved customer service, record punctuality and the successful roll out of our reserved seating service.”
O’Leary also used today’s announcement to reveal the latest situation with Ryanair’s bid for Aer Lingus when he confirmed that the company had made a new set of proposals to the European Union.
“Ryanair has submitted a radical and unprecedented remedies package to the EU in support of its offer for Aer Lingus,” said O’Leary.
“We believe these remedies address every current Ryanair-Aer Lingus crossover route and all other competition issues raised by the commission in its statement of objections.
“The remedies involve two upfront buyers each basing aircraft in Ireland to takeover and operate a substantial part of Aer Lingus' existing route network and short-haul business.
“This will be the first EU airline merger which will deliver structural divestitures and multiple upfront buyers. We look forward to completing our offer for Aer Lingus subject to receiving approval from the EU competition authorities in early March.”
The European Commission last week extended the deadline for making a decision on Ryanair’s latest bid for Aer Lingus to March 6.
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