Ryanair closes the first quarter of the year with strong growth. The net profit achieved by the low-cost airline in the period reached 397 million euros, 55% more than in the same period last year. The rise in profits can be partly explained by the favorable calendar and the presence of the Easter holidays.
Ryanair's chief executive, Michael O'Leary, said he was satisfied with this result, while acknowledging the effect of the Easter holidays. However, the context remains difficult and the weakening of the pound, due to the uncertainty linked to Brexit, knocks down the revenues of the English market, which represent a quarter of the company's turnover.
Despite this quarter's result, Ryanair confirms its prudent forecast of an 8% increase in profit in 2017-2018 (1,4-1,45 billion).
