Ryanair bookings up amid fare war
Discount carrier trimmed tariffs on almost 1,000 routes
Add BT as a preferred source[LONDON] Ryanair Holdings plc said it's winning a fare war embroiling Europe's network and discount carriers as lower ticket prices spur bookings and charges for reserved seating and priority boarding help lift revenue.
Ryanair shares rose the most since May 20 after the Dublin-based company said non-ticket sales rose 13 per cent in the fiscal third quarter through December and that bookings for the current period are significantly ahead of a year ago.
Europe's biggest discount carrier responded to a tougher pricing environment this winter by trimming tariffs on almost 1,000 routes and grounding about 70 jets to pare capacity. The measures helped boost passenger numbers 6 per cent to 18.3 million in the third quarter, even as it posted a 35.2 million euro (S$60.6 million) loss from the competition over fares.
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