With 119 million passengers carried and a 42% rise in net profit to €2.5 billion, Ryanair has published impressive financial results for the first half of the year. Driven by a persistent demand for air travel and the delivery of new Boeing aircraft, revenue increased 13% to €9.8 billion. Rising by 13% over the six months, ticket prices helped to propel the airline’s strong results. With a projected full year passenger count of 207 million, Ryanair would be setting a fresh high for the low cost airline.
CEO Michael O’Leary blasted recent European Union aviation legislation even while the finances were upbeat. He said a European Parliament proposal to permit small carry on baggage gratis should be denied, noting restricted cabin space and that such actions would surely result in more ticket prices.
Furthermore warning that European carriers are trailing behind worldwide rivals, O’Leary urged the European Commission to change environmental legislation especially those pertaining to taxation of CO₂ emissions.
O’Leary, well known for his contentious approach, is still a controversial personality in the business. He is on course for a €111 million bonus right now. He has experienced public criticism in the past, including an event when climate protesters threw pies at him during a visit to the European Commission. has also famously remarked, “I encourage my employees via fear.”