Ryanair reports a big increase in profits

LOW-cost airline Ryanair reports that net profits for the year to the end of March rose 66 per cent to €867 million, slightly ahead of analysts’ expectations.
Love it or loathe it, Ryanair must have been doing something right as the report indicates its year on year profit has risen by two thirds.
Falling oil prices have reduced operating costs, and passenger traffic was up 11 per cent to 90.6 million customers, while total revenue rose 12 per cent to more than €5.6 billion.
Chief executive Michael O’Leary said the airline’s ‘Always Getting Better’ customer experience programme had attracted “millions of new customers to Ryanair.”
“Our AGB programme is transforming our customer experience, our service, and the way we listen and respond to our customers,” Mr O’Leary said.