Ryanair 2008 Annual Report Download - page 20

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20
Directors’ Report
N
UAL REPORT & F INANCIAL STATE MENTS 2007
Review of business activities and future developments in the business
The Group operates a low fares airline business and plans to continue to develop this activity by
expanding its successful low fares formula on new and existing routes. A review of the Group’s
operations for the year is set out on pages 11 to 19.
Results for the year
Adjusted profit after tax excluding exceptional items increased by 20% to 1480.9m. Including
exceptional items profit after tax decreased by 10% to 1390.7m compared to the previous year ended
March 31, 2007. Details of the results are set out in the consolidated income statement on page 42 and
in the related notes.
Share capital
The number of ordinary shares in issue at March 31, 2008 was 1,490,804,671
(2007:1,547,028,730). Details of the classes of shares in issue and the related rights and obligations are
more fully set out in note 15.
Accounting records
The directors believe that they have complied with the requirements of Section 202 of the
Companies Act, 1990 with regard to books of account by employing financial personnel with
appropriate expertise and by providing adequate resources to the financial function. The books of
account of the Company are maintained at its registered office, Corporate Headquarters, Dublin Airport,
Co. Dublin, Ireland.
Staff
At March 31, 2008, the Group employed 5,920 people. This compares to 4,462 staff at March 31,
2007. The increase in staff levels consisted mainly of pilots and cabin crew and arose due to the
expansion of the aircraft fleet and continued growth of the Group.
Air safety
Commitment to air safety is a priority of the Group. The Group has fully documented and
implemented a Safety Management System. The Group operates continuous staff training programmes.
In addition to the designation of a senior pilot as full time Flight Safety Officer, Ryanair has appointed a
Flight Safety Manager and a Flight Safety Administrator. Ryanair has a Safety Committee as more
fully discussed on page 18.
Company information
The Company was incorporated on August 23, 1996 with a registered number of 249885. It is
domiciled in the Republic of Ireland and has its registered offices at Corporate Headquarters, Dublin
Airport, Co. Dublin, Ireland. It is a public limited company and operates under the laws of Ireland.