Ryanair, Europe’s largest low fare airline, has reaped a net profit of over 100 million euros over the last year when most competitors announced significant losses.
Compared to the 2007/2008 figure, Ryanair’s net profit plunged 78 percent in the financial year ending on March 2009.
But it has been hailed as “a robust performance” during a year when record high oil prices and the downturn had taken its toll on many airways.
Ryanair's lowest fare services, which have delivered traffic growth and profitability, enabled the airline to soar through the recession and to become Europe's biggest airline in terms of passenger numbers and market capitalisation.
For the full story by Dongying Wang, published by Xinhua News Agency in June 2009, please click here. Also, please return to the blog to post your comment.
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