Ryanair to use Germany as growth platform

Ryanair has put longer-haul route ambitions to the likes of Russia on hold and will focus on closer destinations like Germany to fuel short-term growth.

The airline yesterday reported after-tax profits of €867m for the 12 months to the end of March — 66% up on the previous year — and promptly said it anticipated at least 10% further profit growth in its current year.

Revenues were up 12%, past the €5.65bn mark, basic earnings per share were ahead nearly 70% at 62.59c, and passenger numbers rose 11% to 90.6m. Costs were down 5% — helped by lower unhedged fuel prices — and the company said its ‘Always Getting Better’ customer improvement programme, now entering its second year of changes, had attracted millions of new customers; while more attractive fares have seen it win market share from competitors at Dublin and London Stansted airports.