Ryanair Records 15% Profits Since March

Budget airline operator Ryanair has boasted half-year pre-tax profits of €482.50 million (£420 million) in the six months to 30 September, up from €419.40 million in 2009.

The increase of over €60 million equates to a 15 percent increase, due in part to raised prices and an increase in passenger numbers.

The news is a real success for Ryanair, especially in light of difficult economic conditions, something that has had a knock-on effect on other airline operators.

From March through September, Ryanair's passenger numbers totalled 40.1 million, a 10 percent increase from 2009, and its revenues increased 23 percent. Ryanair increased its ticket prices by an average 12 percent.

However, second-quarter net profit was €313 million, slightly below analysts' expectations.

"There's a little bit of disappointment, most people were (expecting) around €350 (million) for second-quarter net profit and they came in a bit behind that," said Ken Darmondy, analyst with Goodbody Stockbrokers.

"Other people might be a little bit disappointed that the upgrade that came wasn't bigger because all the airlines across Europe have had upgrades in the last two weeks."

"We continue to gain market share across Europe," Ryanair chief executive Michael O'Leary said in a statement. "We expect this trend to continue."

Shares in Ryanair were trading at €3.98 on the Irish Stock Exchange at 10.30am, down 3.6 per cent on the day.

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