Wednesday 18 January 2017

Ryanair opens new Spanish base in $100m investment

Published 11/09/2015 | 07:35

Passengers board a Ryanair airplane at Barajas airport in Madrid, Spain
Passengers board a Ryanair airplane at Barajas airport in Madrid, Spain

Ryanair has announced the opening of a new base in Spain, its twelfth in the country in an investment it says will be worth $100m (€88.6m).

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One aircraft will be based at Santiago airport. The base, its seventy-fourth overall, is due to be opened in the summer of 2016.

Ryanair chief marketing officer Kenny Jacobs said: "Ryanair is pleased to announce a new Santiago base and we look forward to discussing growth possibilities with the Concello de Santiago de Compostela.

"We are pleased to add another base airport to our network, which will allow us to offer improved schedules on domestic services."

Shares in Ryanair hit an all-time high earlier this week after the airline upgraded its profit forecast for the year.

It raised its net profit guidance by 25pc from a current range of €940m to €970m to between €1.175bn to €1.225bn.

It said that this was due to a combination of factors, including better-than-expected peak summer traffic, favourable weather and the strength of sterling.

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