Ryanair has seen increased profits over the last six months as the budget airline continues to win air traffic of more established names like BA, Air France and Lufthansa.
An increase in profit of around 80% compared to the same period last year is however slightly misleading as this is largely thanks to a reduction in fuel prices. Flight ticket prices have also fallen, but this has been negated by fuel savings.
Ryanair predict that ticket prices will continue to fall, with Michael O’Leary saying:
“It’s never going to be cheaper to fly than it will be on Ryanair this winter”.
The airline predicts a loss over the six months, but is still keen to expand in order to be well-positioned when the market takes an upturn. They are forecasting a fleet approximately one third larger in three or four years time, with around 300 planes at their disposal.