Ryanair records €1.43bn annual profit as fares rise

Budget airline Ryanair has revealed it swung to an annual profit of €1.43bn after a bounce back in travel demand and higher fares (Nicholas.T.Ansell/PA)

Budget airline Ryanair has revealed it swung to an annual profit of €1.43bn after a bounce back in travel demand and higher fares.

The Dublin-based carrier’s profit haul for the 12 months to March 31 compares with a net loss of €355m the previous year and comes after a 74% surge in passengers to 168.6 million.