Ryanair profits soar 20% to €64m

FIRST-QUARTER profits at Ryanair rose by a fifth as passengers flocked to the airline to escape its rivals’ fuel surcharges.

In the three months to the end of June, Ryanair made €64.4 million in profits, a record for its first quarter, on the back of higher passenger numbers and increased fares. The airline said it carried 8.5 million passengers over the three months, 30% higher than in the first quarter last year.

With British Airways, Air France and Lufthansa slapping extra charges on passengers to cope with soaring fuel costs, Ryanair said it was the biggest beneficiary of its rivals’ dissatisfied customers.