Budget carrier Ryanair announced 341 million euros ($419 million) in profits for the first quarter of this year, despite the economic downturn and a loss during this time last year.
These profits will be whittled away thanks to taxes, an estimated 50 million euro ($61.5 million) loss from the Icelandic volcano, and a 3 million euro ($3.75 million) fine the Italy slapped them with for stranding their passengers, but considering the state of the economy it’s still impressive.
In a further show of strength, Ryanair is going to pay a 500 million euro ($615 million) dividend to shareholders, the first time it has done so.
The airline credits a 14% rise in passengers and lower fuel costs as the main reasons for the profits.
Photo courtesy Abutcher15 via Wikimedia Commons.