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Ryanair announce record profits despite cancellations | FairPlane UK / 02.11.2017
Ryanair is still on track to make record annual profits this year, despite the self-induced disruptions to its own schedules.
The Irish budget airline is forecasting end of year profits up to €1.45bn.
Shares in the company have risen in value by more than 4% following the announcement.
Those who have been following the Ryanair story this year will remember that thousands of cancellations had to be made by the airline after pilots holiday rotas had to be changed to comply with new rules.
Stories of Ryanair pilots leaving the airline for jobs with its rivals have been widespread. But new pay deals, have according to Ryanair ensured that there will be no lack of pilots available to fulfil its summer 2018 commitments.
Reductions in the cost of fares by Ryanair in the first half of the financial year will continue into the second half we are hearing as Ryanair attempts to keep customers happy and put the PR disasters of 2017 behind it.
In reference to criticism from the pilots of rival airlines, Ryanair chief executive Michael O'Leary has said…
“We will continue to work hard to deliver for our people, our customers and our shareholders while these competitor unions will continue to rail and fail."
