Dublin-based low-budget carrier Ryanair Holdings plc (RYAAY) is all set to order 300 more aircraft from Airbus or Boeing Co. (BA) by the end of this year, reports revealed on Saturday.
Ryanair currently operates a fleet of 190 Boeing 737-800 aircraft. The Irish airline apparently targets carrying up to 150 million passengers annually by 2017, up from 58.5 million in 2008.
On June 2, the airline posted a net loss of 169 million euros ($239 million) for the year ended March 31, 2009, compared to net profit of 390.71 million euros a year before, hurt by higher fuel costs and a large write down on its stake in Irish flag carrier Aer Lingus. The company's annual revenues were 2.942 billion euros, up 8% over a year earlier.
Ryanair reportedly expects to report profit in the current financial year with estimated earnings in the range of 200 million-300 million euros.
Blaming the government's 10 euro tourist tax and high charges levied by airport operator BAA, last week, Ryanair said it "will freeze growth at its nine UK bases with immediate effect." The company has also announced that it would axe 650 more jobs in Ireland.
RYAAY closed Friday's trading at $27.64, down 1.57% on a volume of 303,492 shares.
For comments and feedback: editorial@rttnews.com