It’s already famous for its low-cost fares, but the good news is that Ryanair says passengers can expect even cheaper flights this year and during the first three months of 2018.
The Irish budget airline experienced an 8% drop in profits for the last three months of 2016 to €95m, where it carried an average of 313,000 passengers a day. “As previously guided, our fares this winter have fallen sharply as Ryanair continues to grow traffic, and load factors strongly in many European markets,” said its chief executive, Michael O’Leary.
With the airline predicting “downward pressure on pricing” until the end of March 2018, the drawback is that passengers may lose the right to take two bags on board. Ryanair places great emphasis on its punctuality, and it believes that travellers taking two bags with them is causing increasing boarding gate delays.
Ryanair’s traffic figures grew by 16% to 29 million customers between October to December last year. It opened five new bases during this time, and is currently preparing more new bases and routes in continental Europe for 2017.
While it made a profit during this period of almost 10% (€3.29) per passenger, the switch of charter capacity from Turkey, Egypt and North Africa into Spain and Portugal should see fares fall even further.
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