What's happened
Ryanair's profits soar after a surge in summer air travel demand and higher fares
Why it matters
The surge in profits and passenger numbers for Ryanair reflects the strong demand for air travel during the summer, despite higher fares and increased fuel costs.
What the papers say
The Times reports that soaring fares and add-on charges have propelled Ryanair to all-time high profits, while The Independent highlights the 59% rise in summer profits and the impact of ongoing steep hikes in air fares. The Telegraph emphasizes the strong recovery of the aviation sector and the surge in profits for Ryanair.
How we got here
The surge in profits comes after a post-Covid surge in demand for flights, with Ryanair predicting record annual profits and robust forward bookings heading into the peak Christmas travel period.
More on these topics
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Ryanair DAC is an Irish budget airline founded in 1984, headquartered in Swords, Dublin, with its primary operational bases at Dublin and London Stansted airports.
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Michael Kevin O'Leary is the Chief Executive Officer of Ryanair. He is one of Ireland's wealthiest businessmen.