Opening Bell: Ryanair profits fly, Britain's Brexit recession warning, replacing JobsBridge

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Ryanair has experienced a massive surge in profits. The airline's full-year results show it made €1.2bn over the past 12 months - that's a 43% increase on the previous year.

It has also become the first airline to carry over 100 million international customers in a year. 

The profits don't include the proceeds from the firm's sale of Aer Lingus shares

Kenny Jacobs is Ryanair's chief financial officer - he told us that European markets have continued to embrace the company's low-cost model:

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Britain's economy would be tipped into a year-long recession if the UK votes to leave the EU, according to George Osborne.

In the latest of what Vote Leave are calling "predictions of doom", David Cameron and the Chancellor once again turn to a Treasury analysis, which they claim shows GDP would be at least 3.6% lower if the UK votes to leave the EU.

Mr Osborne will call this a "DIY recession," urging voters not to "knowingly vote for a recession."

Leaders of the Vote Leave campaign have disputed these claims.

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The Construction Industry Federation (CIF) has warned that constraints on the Government’s capital programme mean that a number of key transport projects face indefinite delays.

It is calling on the Government to increase capital spending on infrastructure from 2% of GDP to between 6-8%.

The body has reviewed the country's 100 biggest infrastructure projects and found that upgrades at Dublin Airport, road improvements and water works, including flood defences.

"The negative impacts on job creation, balanced regional development and the attraction of foreign direct investment to Cork, Limerick and Waterford will transform the two-tier recovery into a permanent two-tier economy," Tom Parlon, director general of the CIF said.

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Sinn Féin says it will send Leo Varadkar its alternative plans for the JobBridge scheme.

Yesterday the new Minister for Social Protection announced he would scrap the controversial, JobBridge, internship programme this September.

Economic consultants will be brought in to review the 2011 system, and changes will be made based on their recommendations.

It's expected the new design will be specifically targeted to help those in long-term unemployment.

Currently, only a third of JobBridge workers go on to full-time employment and Sinn Fein TD, John Brady, says the scheme needs to change:

 

Additional reporting by IRN