Business News
Ryanair reports bumper quarter
Jul 25, 2011, 11:38 GMT
Dublin - Irish low-cost airline Ryanair reported a hefty increase in revenues for its fiscal first quarter ending June, reporting a 29-per-cent year-on-year increase to nearly 1.2 billion euros.
Despite rising fuel costs, earnings rose 49 per cent to 139 million euros.
While the flight ban due to volcanic activity on Iceland severely affected Ryanair last year, the new ash cloud in May 2011 scarcely made a dent on the company's earnings.
The company said it was expecting 400 million euros in earnings for the entire year ending 2012.
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