Ryanair, Europe’s largest low fares airline, today announced record half year profits of 329 million Euors (£220m).
It also gave details aggressive technology based expansion, in contrast to the fortunes of airline giant BA who, hit by extra terrorist security and high fuel prices, took a hit on its profits last week and exited the regional market with the sale of BA Connect.
Ryanair’s CEO, Michael O’Leary, said: “Ryanair has again, delivered record half year profits despite intense competition and very high fuel prices. The Ryanair lowest fare model has proven that it can generate increased profitability and significant passenger growth during difficult trading conditions while many of our competitors are struggling to deliver profits or are losing money.”
The Irish carrier recently launched a Bingo\Gaming website and said its 15 million unique visitors each month will now be offered the lowest fares and a flutter on the gambling website. It also referred to plans to mobile enable its entire fleet.
“As we roll out our onboard mobile phone system next summer, passengers will also be able to have a flutter whilst travelling on our 437 routes across Europe,” revealed the second quarter financial statement.