Ryanair's first quarter profit up 25% to €245m

Ryanair reported a first quarter profit of €245m, up 25% on last year, as traffic grew 16% to 28m due to stronger load factors, up 6% points to 92%. Despite CapEx of €324m and share buybacks of €195m, Ryanair’s net cash increased to over €550m (from €364m in March).  The airline completed almost 90% of its current €400m share buyback programme which when it closes in August, will mean it has returned almost €3bn to its shareholders via special dividends and share buybacks since 2008. On July 10th, the Board of Ryanair voted unanimously to accept the IAG offer for Ryanair’s 29.8% stake in Aer Lingus.