Ryanair has said that its after-tax profits grew by 10% to €596m in the first six months of its financial year

The airline said its revenues rose by 15% to €3.11 billion, its passenger figures grew 7% to 48 million and average fares rose by 6%.

Ryanair said its unit costs were up 8%, mainly due to a 24% (€218m) increase in fuel. But excluding fuel, adjusted unit costs rose by 2%.

Its statement said a combination of higher oil prices and EU wide recession continues to drive significant change in European aviation.

It also used the opportunity to stress its continued interest in buying Aer Lingus. ''Ryanair is determined to explore all commercial options to address any competition concerns the EU may have in order to secure approval for its proposed merger,'' the airline said.

It noted that a number of EU airlines have closed this summer including Windjet in Sicily, OLT Express in Poland, and the UK's bmibaby. These follow earlier collapses of both Malev (Hungary) and Spanair (Spain) in 2012.

Ryanair said that in contrast it continues to find profitable opportunities for growth across Europe as higher cost and less efficient competitors struggle to survive.

The airline said it expects market conditions in Europe to remain tough as recession, austerity, high fuel costs, and Government taxes dampen air travel demand.