Ryanair profits hit record €1.92bn
Continue To Airline Ryanair Europe He Michael Said Ceo Expects In O'leary Consolidation
Ryanair reported an annual profit of €1.92bn for the 12 months to the end of March on the back of a 9% jump in passenger numbers.
The airline carried 184 million travellers last year which is 23% more than it was carrying before the covid pandemic.
Reporting its financial results today, Ryanair said its fuel bill jumped by 32% to €5.14bn but that its revenue per passenger increased 15% last year and the average Ryanair fare is 21% above the previous year and now stands at €49.80.
Ryanair's Group CEO Michael O'Leary said they recorded record traffic in the first half of the financial year and strong Easter traffic in late March which were offset by softer-than-expected fares and load factors in the third quarter.
Ryanair operates a fleet of 146 Boeing 737s that it plans to increase to 158 by the end of July. This is 23 short of its contracted Boeing deliveries.
"There remains a risk that Boeing deliveries could slip further," O'Leary said. "We plan to deliver as much growth as possible for passengers and airport partners in summer 24, although these delays mean more traffic growth will occur in lower-yielding H2 than planned."
"We remain cautiously optimistic that peak summer 24 fares will be flat to modestly ahead of last summer," he said.
Ryanair said it was too early to provide accurate guidance on profits for the year ahead as the financial year will not benefit from an early Easter as it did this year.