Ryanair announces a pretty future

Ryanair, the budget airline, hope to benefit from the recession driven by the hope that the reduction in the price of oil will boost profits, even though sales are falling.

The Irish airline said yesterday that although they will be facing a 10 percent drop by 2010 in sales, falling fuel prices mean the company is now forecast to make a profit of as much as 45-50 million pounds.

Shares in Ryanair rose by 5.3 percent in London yesterday morning and the company is benefiting from the recession as passengers are now choosing the lower cost option when it comes to flying.

The airline’s website has been successfully publishing the idea that they offer 75 percent of the lowest fares to continental Europe with some fares as low as £2.50

Deputy Chief Executive Michael Cawley said that even though the general economic environment remains extremely difficult it is a good environment for the lowest cost producers in each sector and Ryanair are well placed to be able to take advantage.

Following Alitalia’s problems Ryanair has been able to benefit in Italy which is the carrier’s second largest market.

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