04.06.09
Ryanair has signed an agreement with AXA Travel Insurance, part of the AXA Assistance Group. Under the 5 year deal, which takes effect from September, Ryanair's passengers will be offered Axa's single trip and multi-trip insurance, with the budget airline receiving a percentage of the sales..
The airline said last week that 20% of its turnover now comes from such ‘auxiliary income’. Given that this source of income is virtually cost free, we would guess that a bigger percentage - perhaps all - of its profits come from these revenues. It is interesting that its partners from these sources of revenue seem to change each time the contracts are renewed.
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