Irish budget carrier Ryanair has reported a decent rise in full-year profit despite a business environment that has driven down ticket prices rapidly. But increased capacity and cost cuts proved successful.Ireland’s Ryanair on Tuesday announced a 6-percent rise in bottom-line earnings for its business year ended March 2017. Europe’s largest carrier by passenger numbers said it earned net profit of 1.316 billion euros ($1.46 billion) at the lower end of its own forecast range, but in line with analysts’ expectations. Ryanair registered 120 million passengers for the whole year, targeting 130 million for the current year to March 2018 and thus implying growth of 8 percent. The carrier said it expected fares to fall by another 5 to 7 percent in the current business year, down from an even bigger drop of 13 percent in the previous year.

Source: Daily News Egypt May 30, 2017 13:30 UTC