Traffic growth pushes up Ryanair profits

Ryanair has announced a profit of €139m for the first quarter as traffic grew 18%.

Revenues went up by 29% to €1.1bn from €896m last year.

The airline said it is as a result of the increase in passengers and a rise in fares of 11%.

Ryanair's deputy Chief Executive Michael Cawley said the figures come despite a 49% increase in fuel costs.