Ryanair vows to cut fares to boost business

Ryanair vows to cut fares to boost business

Budget airline Ryanair has vowed to cut average fares by up to 10% as part of a bid to fly an additional five million passengers over the winter period.

The carrier believes there are “many opportunities” open to it, such as competing more vigorously at primary airports and in attracting business traffic which tends to travel more during the winter period.

Its “ambitious” new forecasts for the six months to March 31 include the plan to fly an additional 2.2 million passengers compared with its previous estimate - leading to a total rise of 16% or 5.3 million customers on a year earlier.

It now expects annual profits of up to €770m, a rise of 18% on its previous guidance. Profits for the summer half-year were 32% higher at €795m, the company added.

The airline’s recent drive to improve its image is showing signs of paying off, having softened its stance on baggage charges and booking conditions and introduced allocated seating and a new business service.

Ryanair said average fares will fall by between 3% and 5% in the current quarter before an aggressive promotional drive will cut fares by between 6% and 10% in the new year.

As a result, the airline expects to carry 89 million customers in the year to March 31, a rise of 9% on a year earlier and the second such upgrade since September.

Average fares will be up by 1% to €47 across the year as a result of higher prices over the Easter period.

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