Ryanair keeps growing, reports record profits

Monday, May 20th, 2013 | Finance News

DUBLIN (AP) — Ryanair has reported record profits as Europe's largest budget airline expands across the continent.

The Dublin-based carrier said Monday its full-year net profit rose 13 percent to 569.3 million euros ($729 million), eclipsing last year's record.

Sales rose 13 percent to 4.9 billion euros for the fiscal year ending in March. This reflects a 6 percent rise in average ticket prices and 217 new routes, taking Ryanair's network to more than 1,600. Ryanair carried 79.3 million passengers, up 5 percent.

Ryanair offered a cautious outlook, noting that recession across much of Europe meant it probably wouldn't beat Monday's figures. It forecast a 2014 profit in the range of 570 million euros to 600 million euros.

Its network is expected to keep growing. Ryanair in March ordered 175 more Boeing 737-800s.