Ryanair makes €305m profit

Irish airline Ryanair said today that it bounced back into profit in 2009/2010, as passenger numbers rose and fuel costs fell, and unveiled the first dividend since becoming a listed company in 1997. Net profits stood at €305.3 million ($372 million)...

Irish airline Ryanair said today that it bounced back into profit in 2009/2010, as passenger numbers rose and fuel costs fell, and unveiled the first dividend since becoming a listed company in 1997.

Net profits stood at €305.3 million ($372 million) in the 12 months to the end of March, which contrasted with a net loss of 169.2 million euros in the previous financial year, Ryanair said in a results statement.

Passenger numbers meanwhile leapt 14 percent while fuel costs dived 29 percent on the back of lower crude oil prices.

Ryanair added that it planned to issue a shareholder dividend payment of €500 million in October, after talks with Boeing over new aircraft orders had collapsed in December 2009.

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