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Ryanair increases its earnings by 11% despite massive flight cancellations

The Irish airline increased 11% traffic in its first fiscal semester and dedicated 25 million to compensation for those affected

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Ryanair increases its earnings by 11% despite massive flight cancellations

Ryanair recorded a net profit of 1.493 billion euros in its first fiscal semester (March-September) of 2017, which represents an increase of 11% compared to same period of previous year, despite wave of cancellations that has had to face a problem of Flight planning since mid-September.

Passenger traffic grew by 11% and reached 72.1 million passengers, thanks to a strong Easter and a 5% reduction in rates that allow customers to save more than 160 million euros in half year, according to low-cost airline. Revenues rose in se first six months to 4.425 billion euros, 7% more.

The company recognizes a single expenditure of EUR 25 million to compensate or relocate passengers affected by cancellations in September. The fuel bill dropped 3% despite increase in traffic.

The airline headed by Michael O'Leary has been convinced that recent bankruptcy of Monarch (5 million passengers), Air Berlin (29 million) and Alitalia (24 million) will provide growth motives in markets covered by se low- Cost.

However, leading airline in Europe and Spain remains concerned about continued uncertainty about terms of UK's departure from EU (Brexit) in March 2019, and warns that re is "a worrying risk of a serious disruption of flights between EU and The United Kingdom in April 2019 "unless both parties reach a bilateral agreement by September 2018.

For second half of its fiscal year, Ryanair foresees a decrease in its projected growth at rates of 4%. "As a result, annual traffic will fall from 131 to 129 million of travelers," y said. They have also advanced decreases in rates of between 4% and 6%.

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