Ryanair sees 1% profits increase, excluding €50m impact of volcanic ash cloud

Ryanair made a profit of €138m after tax in the first quarter of the year, up 1% on the same period last year, according to figures released to the stock exchange this morning.

Total revenues rose by 16% to €896.8m due to an 8% rise in traffic and a 5% increase in average fares, while fuel costs grew by 8%.

The figures exclude pre-tax exceptional costs of €50m from the volcanic ash airspace closures in April and May, the airline said.