Shareholder news
date: 19 May 2012
The about-turn of Michael O'Leary |
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Source: Suddeutsche Zeitung (Germany), 24 May 2011 Budget airline Ryanair increased its profits by 26 per cent to EUR 405m in the business year ended March 2011. However, the increase in profits is not the result of growing passenger numbers but an increase in ticket prices. As flights become more expensive due to high fuel prices it is getting more and more difficult to attract new customers; all budget airlines are dealing with the same problem. Easyjet founder and majority shareholder Stelios Haji-Ioannou has been trying to curb the airline's growth course, with modest success. However, new Easyjet CEO Caroline McCall has abandoned the intense growth strategy her predecessor used. |
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