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Record profits for Ryanair

Record profits for Ryanair
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By Philip Andrew Churm
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Irish-based Ryanair says post-tax profits rose to €1.45bn for the year 2017-2018.

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Budget airline Ryanair has reported record annual profits despite a series of problems with pilot rotas last year which led to the cancellation of thousands of flights.

The Irish based company said post-tax profits rose by 10 percent to €1.45bn for the year 2017-2018.

But chief executive Michael O’Leary said the year ahead could be more difficult due to rising fuel and staff costs.

Ryanair said passenger numbers had risen by 9 percent to 130.3 million in the 12 months to the end of March with Germany, Italy and Spain showing the biggest increase in flights.

Europe’s largest low-cost airline recently said it will recognise trade unions, something the company had previously resisted.

In Ireland, the union representing pilots is currently considering balloting members over working practices.

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