Ryanair annual profit jumps on higher demand

LONDON, May 20 (AFP): Irish no-frills carrier Ryanair on Monday said group net profit jumped a third to 1.92 billion euros in its financial year as higher demand and fares offset ballooning fuel costs.

Profit after tax climbed 34 per cent to the equivalent of $2.1 billion in the 12 months to the end of March for the airline that flies mostly across Europe, Ryanair said in an earnings statement.

The Dublin-based carrier added that demand rose nine per cent to almost 184 million passengers. Revenue jumped a quarter to 13.4 billion euros.