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Ambitious growth plans for Ryanair
Sunday 13 May 2007 8:53 PM
At an industry conference, Ryanair CEO, Michael O'Leary announced that he expects the the number of passengers flying on Ryanair to double from 50 million this year to 100 million in five years time.He also said that they plan to double the number of bases from 20 to 40 in the same timeframe. The announcement comes shortly after fellow cheap flight operator easyjet announced a reduction in its pre-tax loss from £40 million to a better £17 million. Easyjet's "load factor" - a measure of how full planes are - fell last month and the company announced a plan of summer reductions to boost sales. Yields or profit per seat sold also reduced. Ryanair have also announced recently that the recent increase in passenger taxes has resulted in lower yields/profits per seat sold.
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