A strong Easter performance and its new focus on customer service have been highlighted by Ryanair as some of the reasons it enjoyed an 11 per cent rise in revenue and a four per cent rise in passenger numbers in the first quarter.
The buoyant results come after a string of less successful announcements, with the airline issuing two profit warnings in autumn last year.
Ryanair reported a 152 per cent increase in net profits to €197m (£155.8m), up from €78m on last year. However, chief executive Michael O’Leary warned the large increase was due in part to Easter falling in Q1, when it fell in Q2 in 2013.
O’Leary is confident the airline’s decision to give its customer service a dramatic makeover, which included introducing allocated seating and allowing a second piece of hand luggage, has had its desired effect and the analysts agree, with Cantor issuing a “buy” status. “Strong numbers and evidence that Ryanair’s shift in strategy to improve customer service and focus on more primary airports is working,” said Robin Byde at Cantor.