Ryanair posts 55% profit rise in first quarter

Ryanair has posted a 55% rise in first quarter profit to €397m. This result is distorted by the timing of Easter in the first quarter, with no holiday period in the prior year comparative. Traffic grew 12% to 35m as Ryanair’s lower fares and “Always Getting Better” (AGB) programme delivered a record 96% load factor. Ryanair took delivery of 14 new B737’s in the first quarter, ahead of the peak summer period.
In June the airline has ordered 10 more B737-MAX-200 “Game Changer” aircraft. Five of these will be delivered in spring 2019 and 5 more in spring 2020. In addition, Ryanair agreed extensions of 10 operating leases.