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15:04, 26 May 2018 Saturday
14:03, 05 February 2018 Monday

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Ryanair profits rise despite cancellations crisis
Ryanair profits rise despite cancellations crisis

Profit after tax increased to 106 million euros ($132 million) in the group's third quarter, or three months to December, from a year earlier, the Dublin-based carrier said in a statement. Passenger numbers grew six percent to 30.4 million people.

World Bulletin / News Desk

Ireland's troubled Ryanair said Monday that quarterly net profits rose 12 percent despite a cancellations crisis, but warned Britain was under-estimating the risk of "serious disruption" to flights following Brexit.

In another boost, the group forecast passenger traffic would climb eight percent to 130 million for the full year which ends in March 2018. That was upgraded from previous guidance of 129 million.

And Ryanair also announced a 750-million-euro share buyback which will begin this month.

"We are pleased to report this... increase in profits during a very challenging third quarter," said chief executive Michael O'Leary.

Investors seemed unmoved, with Ryanair shares down more than 3 percent in morning trading in Dublin.



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