Irish budget airline posts profit despite many cancellations this year
Undeterred by its internal ‘rostering failure’ which lead to thousands of flight cancellations this year, Dublin-based Ryanair posted an 11 per cent rise in net profit for the first half of the year and said it remained on course to meet its full-year target.
The carrier’s profit after tax rose to £1.14bn for the six months to the end of September.
Neil Sorahan, chief financial officer of Ryanair, told CNBC today that the results showed a “very solid performance” and underpinned the strength of its model.
The Irish budget airline has struggled in the last few months over issues with its pilots’ internal leave rota leading to thousands of flight cancellations.Following this fiasco, the airline had to hire 900 more pilots.
“We will have a little bit of cost inflation on the staffing front but still way lower than everybody else out in the market at this point in time and indeed we are very much on track to deliver our 200 million customers over the next seven years to March 2024,” Sorahan added.