Ryanair says profits rise, confirms Aer Lingus takeover plan reports
AFPDUBLIN -- Ryanair on Monday said that net profit rose 21 percent in the group's third quarter, as the Irish no-frills airline confirmed a proposal it hopes will enable it to finally win a battle to buy rival Aer Lingus.
January 29, 2013, 12:05 am TWN
Ryanair said in a statement that profit after tax increased by a fifth to 18.1 million euros (US$24 million) in the three months to Dec. 31 compared with the equivalent period in 2011, causing the group to hike its full-year forecast.
It added in a separate statement that Ryanair had submitted “a radical and unprecedented remedies package to the EU in support of its offer for Aer Lingus,” confirming media reports last week.
The Dublin-based carrier meanwhile said that its third-quarter profits rose on higher ticket income, helping to offset an 81 million-euros increase in fuel costs.
“Our Q3 profit of 18 million euros was ahead of expectations due to strong pre-Christmas bookings at higher yields,” Ryanair chief executive Michael O'Leary said in the earnings statement.