Ryanair Profit Loss

Ryanair Profit Loss.

Europe’s biggest budget airline Ryanair has seen net profits for the year to March fall to £426m. This was the first time the firm had seen a drop in 5 years.

Due to price competition from rivals, Ryanair issued a profit warning last year.

Over the last year Ryanair has increased efforts to keep existing passengers, while also attracting new ones. Amongst the efforts, Ryanair who are renowned for taking away certain luxury’s to keep prices down, passengers will be able to take a second carry on bag and have reduced the amount of advertising on flights.

Despite the fall in profits, Ryanair aim to be back on track over the next year by boosting passenger numbers by 4% to over 84 million people, they are also expecting a profit rise of 10-20%.

Ryanair received a complete makeover in April as part of the marketing teams effort make Ryanair’s chief executive Michael O’Leary’s controversial tactic’s publicised in the right ways.