2 Jun 2010

Pre-tax profit reported by Ryanair

8:27 am on 2 June 2010

Ryanair has reported a pre-tax profit of 341 million euros for the year to March, bouncing back from its first annual loss this time last year.

The Irish budget airline also said it planned to pay a one-off dividend to shareholders totalling 500 million euros - the first dividend it has paid.

Passenger numbers were up 14% on last year, while revenue rose 2%.

But the airline said disruption caused by volcanic ash in April, which is not covered in the results, would cost about 50 million euros.

However, Ryanair benefited significantly from lower oil prices. Fuel costs were down 29% from the previous year.