Ryanair grinded profits in the 2015/2016 fiscal year, which ended last March 31 with a net profit of 1,24 billion euros, up 43% on the previous year, driven by the strong increase in the number of passengers (+18 % to 106,4 million). Revenue growth was 16%, to $6,536 billion. While awaiting more significant data on summer bookings, the Irish low-cost carrier remains cautious on the 2016/2017 fiscal year, for which it expects a lower profit increase, equal to 13%. As the company explains, the quarter that began in April is already weighed down – for example – by the numerous cancellations due to strikes.
At the moment, on the other hand, the fact that Ryanair is lowering fares to contain the escape from flights that accidents and terrorism could cause did not matter, but could do so in the future. In April, CEO Michael O'Leary had quantified at 30-40 million the annual cost of controller strikes and terrorist attacks.
Ryanair's number one also took advantage of the publication of the accounts to reiterate his position on Brexit, which “would hurt economic growth and consumer confidence in the UK for the next two to three years. As Britain's largest airline, Ryanair strongly believes that the UK economy and its future growth prospects will be stronger if it remains a member of the European Union. Europe was the deregulation of the airline industry in the late 80s, which allowed Ryanair to dismantle the cartel of high fares of European flag carriers and allowed us to change air traffic, tourism, economic growth and the employment throughout Europe”.
