Air Transport World

Ryanair.(Europe)(Brief Article)

After regaining its position as Europe's largest low-fare airline from easyJet and surpassing British Airways in terms of European passenger enplanements, the Irish no-frills leader got off to a poor start in 2004. It reported for the first time in a decade a fall in its continuous profit growth, issued its first profit warning and suffered a key defeat when the European Commission ruled that some of the incentives it received to serve Brussels South Cbarleroi constituted illegal state aid and must be repaid.

In the end, Ryanair beat forecasts and its own profit warning as it posted a net before goodwill and exceptional items of 226.6 million [euro] ($277.8 million) for the year ended March 31, down only 5% from the previous year. …

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