Leading European no frills airline Ryanair has reported a 34% rise in third quarter after-tax profit and said it would raise up to 123 million euros to finance new planes.
Ryanair, which is listed in both Dublin and London, said its after-tax profit rose to 21.3 million euros in the third quarter on sales of 114.9 million. Passenger numbers jumped by 39% to 1.89 million.
The company said the improvements were achieved during what was considered a
weaker winter period of the year.
The group said a very strong performance from its successful Ryanair.com website, which accounted for 65% of all bookings, contributed to marketing and distribution costs over the quarter falling by two-thirds. Earnings per share climbed by 28 percent to 6.08 cents in the quarter to December 30.
Ryanair also said it planned to issue up to 10 million new shares in the company, while Chief Executive Michael O'Leary will sell up to three million of his shares, representing about 3.7% of the issued share capital.
Up to 123 million euros will be raised to pay for 13 new Boeing 737-800 planes, due to be delivered over the next two years, Ryanair said.
The budget airline said that by the end of Febuary it will open a new continental European hub, at least six new destinations, and increased frequency on some routes. It aims to carry nine million passengers over the coming year, making it one of the top 10 in Europe by traffic numbers.
