Ryanair financial statement 2010

In my last post, I stated that I believed that Ryanair would suffer financial loss due to the mistreatment of their customers through vague and hidden charges.  I must now eat my words.  In their latest financial report, found at:  http://www.ryanair.com/en/investor/download/2010  (download the 2010 annual report), it shows that Ryanair has actually made huge profits since 2009.  In fact, they have consistently made large increases in profit since the company’s start.  In contrast to what I said in the previous blog, I actually believe that Ryanair will continue to make large financial gains.  This is because, for one thing, Ryanair has gained so much publicity through it’s controversial hidden charges that many people who had previously not heard of them are now attracted to their low prices.  Even though these people know that they will almost certainly be charged hidden fees, the ridiculously low base fee is simply too low for them to resist.  Also, before Ryanair became well-known, the hidden charges were a nasty surprise, and would have turned some people off.  Now, however, Ryanair’s customers almost expect an extra fee of some sort, thereby making it not nearly as surprising or frustrating.