Ryanair profits soar 15% with passenger boost

SHARES in Ryanair gained nearly 17% yesterday after the airline posted a 15% rise in first-half profits as more passengers flocked to the carrier for its lower fares.

The airline said that in the six months to the end of September it made €201 million in profits on revenues up 21% to €721m.

The carrier had been expecting lower earnings because it was slashing ticket prices to fill seats. It warned the markets earlier this year that its yields the average revenue it earns from passengers would have to come down by 10% to fill flights. The yield fell by 5% over the half-year period.