Ryanair raunchy ads must have worked… airline bags half a Billion Euro profit

Ryanair have done it again, in the last year they've made record profits now pulling in half a billion euro.

They may skimp on any extras with their cheap flights but it seems to be working for the ever annoying Michael O'Leary. His airline is now flying the equivalent of every person in Ireland more than 16 times each.

In the year to March the airline's profit margin rose by 25 per cent to €502.6 million. Thankfully, though, O'Leary won't be getting too big-headed as he's already worried about next year's profits.

How did Ryanair manage such an exponential rise in profits even as the world economy is in tatters and the price of aviation fuel is skyrocketing? Simple - he's stuck up most fares by an average of 16 per cent.

The budget (aka stingy) airline wants to increase passenger numbers again next year by another 5 per cent.

When talking about the number of European airlines going under, he said: "We expect more European failures in 2012, as higher oil prices and recession continues to expose failed airline models as well as subscale or peripheral carriers."

No doubt he'll be there offering to save all their stranded passengers.