Low-cost airline Ryanair on Monday reported record
yearly profits as it continued to grow, despite the economic crisis
in Europe and higher fuel costs.
The Ireland-based company said annual profit stood at 569 million euros (731 million dollars), 13 per cent higher than last year.
A 5-per-cent rise in traffic levels to 79.3 million passengers lifted revenues for the fiscal year ending March 31 by 13 per cent to 4.88 billion euros, the company said in a statement.
It warned that the recession across much of the EU would dampen 2014 profits, which it expects to be in the range of 570-600 million euros.
The company has received 15 new aircraft, opened seven new bases, and launched 217 new routes.
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