Ryanair got its $5 million back from Chinese hackers

For the cost-conscious Ryanair, recovering almost $US5 million (£3.25 million) stolen by Chinese hackers must feel great.

The company said that the funds, which were lost to a
fraudulent electronic transfer to a Chinese bank in April,” have now all been recovered and steps put in place to make sure it can’t happen again.

Ryanair used its dollar accounts to buy fuel for aircraft, according to reports at the time, and it was these accounts that were targeted by the fraudsters.

The good news for Ryanair doesn’t stop there. The company raises its profit guidance by 25% to around €1.2 billion (£870 million) for the year, after one of the wettest Augusts in a century pushed British holidaymakers abroad and low fuel prices helped drive down costs.

Ryanair CEO Michael O’Leary said: “We have been surprised by the strength of close-in bookings and fares this summer during which we delivered record 95% load factors in both July and August while fares grew by over 2%, when we had expected them to be flat.”

The market was buoyed by the news, and shares in Ryanair are up almost 10% in morning trading:

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