Ryanair announce record profits

Ryanair have announced record profits for the last financial year of €1.32 billion (£1.14 billion). As predicted fares fell 13%.Ryanair says it expects fares to fall this year too but not as sharply, they predict somewhere in the region of 5% – 7%.

The airline is looking to expand by acquiring more aircraft quicker than previously planned to try and steal a March on their competitors. The airline is talking to Boeing about keeping some leased aircraft for longer and taking deliveries of new aircraft earlier if possible.

Ryanair and its competitors are closely watching the situation with Alitalia as if the airline goes bankrupt and ceases operations airlines will want to mop up their market share and the quickest to react will get the most.

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