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Irish low-cost carrier Ryanair has reported its December 2016 traffic results, which are showing a 20% month-over-month increase.

117 million passengers for Ryanair

For the month December Ryanair reported a load factor of 94% versus 91% last month and 9 million passengers carried versus 7.5 million in November.

The result brings the low-cost carrier’s 2016 traffic results to 117 million versus 91 million last year. A 16 million increase in passengers, the highest the low-cost carrier has ever reported. In relative numbers the company’s passengers carried grew by 28.5%.

By 2024 the company aims to carry over 160 passengers per year with a fleet of 500 aircraft including the Boeing 737 MAX 200, which is specifically made for low cost carriers such as Ryanair.