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Ryanair attacks regulations, despite recording profits
23 May 2011
Low cost carrier, Ryanair, announces FY/2011 profits but strikes back at regulators about difficult operating conditions.
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Ryanair
Michael O'Leary
Dublin
EU 261
Ireland
Howard Millar
Ryanair has reported €401 million ($567 million) profits for financial year 2011, a year-on-year rise of 26%. Traffic grew by 8% to 72 million passengers leading to revenues of €3.7 billion, up by 21% from March 2010.
The airline says there was a 27% hike in airport fees, which led to Dublin airport traffic falling by 30% to just 18 million passengers. At the peak in 2007 the airport recorded 24.5 million passengers.
"To reverse this disastrous collapse, and return to tourism growth, the DAA airport monopoly...
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