Ryanair ended the third quarter of 2015 with a profit of 103 million euros, up 110% compared to the same period of the previous year.
This was communicated by the Irish low cost company, adding that in the three months traffic grew by 20% to 24,9 million passengers while revenues rose by 17% to 1,33 billion.
Very positive numbers that have led the first low-cost airline in Europe to announce a cut in ticket prices.
In fact, the company said it reacted to the collapse in bookings following the Paris attacks on November 13 by cutting ticket prices and a further 6% reduction will be implemented in the first three months of 2016.
“Thanks to our low pricing policy, we recorded strong third-quarter traffic and profit growth,” comments CEO Michael O'Leary. The growth of the load factor allows Ryanair to increase its traffic target for the whole of 2016 from 105 million to 106 million passengers. For the fourth quarter, the forecast for traffic - reads the note - is for growth of 26% (from 22% in the previous estimate). Finally, the Irish company announced an 800 million euro buy-back to increase shareholder returns.
