Ryanair profits surge on higher fares and record summer traffic

Airline declares a €400m dividend after recording a 30% hike in profits to €2.18bn and as revenues hit €6.62bn

Average fares increased 24 per cent to €58 due to a strong Easter and record demand Ryanair said

Ryanair has reported a 59 per cent increase in first half profits to €2.18 billion on the back of record summer traffic.

The airline, which has declared a €400 million dividend for shareholders, also attributed the rise in profits to a strong Easter and bigger fares which offset “significantly higher” fuel costs.

Ryanair recorded a 30 per cent hike in revenues to €6.62 billion versus the same six months a year earlier as traffic rose ...