Ryanair is having an incredible year.
You might have noticed just how packed the flights have been if you’ve travelled with them.
The company ended a record November, boosting customers 21% to 7.71 million and load factor 5% to 93% — a measure of how full the planes are.
Ryanair’s marketing chief, Kenny Jacobs, said the numbers were “due to our lower fares, our stronger forward bookings and the continuing success of our “Always Getting Better” customer experience programme, which continues to deliver stronger than expected traffic and load factors.”
Apart from a policy of being nicer to customers, Ryanair has benefited from a few other factors outside its control.
Firstly, falling oil prices have helped Ryanair keep prices low and still earn a profit. Fuel costs, Ryanair’s biggest expense, fell by 1% in the first half of the year compared to last — falling to €1.15 billion.
Secondly, a weak euro and strong pound has boosted traffic from the UK, with flights appearing even cheaper for UK customers.
Finally, people are just taking more holidays. Kristen Forbes, a member of the Bank of England’s Monetary Policy Committee told UK lawmakers last week that
“people are taking more vacations.”
“People are feeling more comfortable in their jobs and working less hours,” she added.
So, when you’re struggling to fit your bag in the overhead locker, at least you know it’s not entirely your fault.
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