Holiday enabler Ryanair has said its fliers should see an average drop in fare prices of around 7 per cent this year, as it embarks on a wide range of price cuts designed to keep its planes full and batter the competition.
The company's full results [PDF] make for extremely good reading for its owners, with passenger numbers up 18 per cent year on year, and profits rocketing by a massive 43 per cent. And it could've been much, much better too, as exec Michael O’Leary admitted to backing a disastrous hedge on the price of oil back in 2014, meaning it paid an average price of $90 per barrel for its fuel over the last financial year despite global prices falling to less than half that.
And it's quite possibly all down to the trousers worn by flight staff, as the flier explained: "We improved schedules and customer choice as we grew in more primary airports. We’ve enhanced the in-flight experience with slim line seats, more leg room and Boeing Sky Interiors on our new aircraft, and our cabin crew helped design and deliver new uniforms."
And it's also bargained its fuel price for 2017 down to an average of around $62 per barrel, which should ensure next year's graphs are all pointing up too. [BBC]