BUDGET airline Ryanair has shrugged off the economic turbulence of the recession to soar back into profit.

The Irish firm, which has a major base on the south coast at Bournemouth Airport, made pre-tax profits of £281m for the year to March 31, against a £150.5m loss a year earlier.

Ryanair grew traffic 14 per cent to 67 million passengers while fuel costs fell 29 per cent thanks to lower oil prices.

Boss Michael O'Leary will pocket nearly £16.7m as part of a £422m dividend for shareholders. The chief executive, who owns 4 per cent of shares in the airline, said the special dividend – the company's first since it listed on the stock market in 1997 – will also mean a £8.4m payout for the 2 per cent of airline staff who own shares.

The firm said it was “proud” of its performance and expected further double-digit growth in traffic and profit this year - barring any more disruption from Iceland's volcanic ash cloud.

Ryanair said “repeated, unnecessary closures” of European airspace had left it with a bill of around £42.3m so far.

£5,000 goes to charity MAJOR Chandler’s Ford employer, insurance giant Fortis UK, has donated £5,000 to children’s charity Friends of Westwood and Jigsaw.

The charity, which helps youngsters with learning difficulties and behavioural problems, is Fortis UK’s charity of the year.

Lyn Nicholls, HR Director, Fortis said: “We are delighted to support Friends of Westwood and Jigsaw with this £5,000 donation. I am very proud of the effort made by staff to assist such a worthy appeal and am pleased we can help the charity deliver its services in the local area.”