Ryanair expansion set to send profits sky high

LEADING low-fare carrier Ryanair is perfectly poised to increase its profits even further as demand for its services continues to grow, the airline’s chief executive Michael O’Leary said yesterday.

Ryanair is adding planes, expanding its network of routes and base airports and expects to carry 40 million passengers a year, with a fleet of about 110 aircraft, by 2008.

It expects to handle more than 20 million people in 2004, compared with 15.7 million in the current period.