Ryanair: Net profit more than doubles thanks to higher ticket prices

Irish airline Ryanair sees net profit soar, driven by increased passenger traffic and soaring fares

Irish airline Ryanair announced on Monday a net profit of €820 million for the first quarter of its staggered financial year, more than double the previous year, boosted by higher ticket prices.

The carrier, which had to lower its prices the previous year to fill its planes , explained in a press release that its results for the three months ending at the end of June were driven by "a 4% increase in traffic to reach 58 million passengers and fares up 21%."