Ryanair lifts passenger target on cheap fares

Bigger target: A Ryanair aircraft seen at the airport in Hamburg. Dublin-based Ryanair plans to serve more than 200 million customers by 2024, up from a previous target of 180 million. — EPA

LONDON: Ryanair Holdings Plc said it will transport more passengers than previously expected in the years ahead, as lower fares help Europe’s biggest discount airline draw customers and boost profit.

Dublin-based Ryanair planned to serve more than 200 million customers by 2024, up from a previous target of 180 million, the company said. Passengers in the first half rose 12% to a record 64.8 million, pushing after-tax profit 7% higher to 1.17 billion euros (US$1.3bil) in the period. Ryanair will share returns with investors by buying back stock.