Ryanair Soars in Profits During April-June Quarter and Anticipates Record Summer Amid Strong Bookings
Ryanair has reported a significant increase in net profits for the April-June quarter. The airline announced on Monday that its earnings more than doubled, reaching €820 million ($953 million), up from €360 million in the same period last year. This remarkable growth is largely attributed to higher-than-expected last-minute fares and the favorable timing of Easter in the calendar.
For comparison, when Easter also fell in April—as it did this year—Ryanair earned €663 million. Thus, the current results far exceed both 2023’s earnings and analyst consensus projections, which estimated around €716 million, according to an internal survey by the airline.
Strong Bookings and Consumer Confidence: Fueling the Summer
While some rival airlines are experiencing delays in passenger bookings, Ryanair has not observed this negative trend. Its CFO, Neil Sorahan, stated clearly: “Bookings are strong across the board. Consumer confidence is very high.”
In this context, Ryanair’s shares rose 6.5%, reaching €24.58 at 07:25 GMT, just below its all-time high of €24.98 recorded on July 8.
→ Ryanair Surpasses 19 Million Passengers in June Despite Middle East Conflict Cancellations
Fare Increases and Recovery from Previous Declines
During this first fiscal quarter, average fares increased by 21%, more than offsetting the 15% decline seen the previous year. For the July-September quarter—the most lucrative period for European airlines—Ryanair anticipates recovering “almost all” of the 7% fare drop from last year, which was attributed to weaker consumer confidence and conflicts with some online travel agencies.
In June, the company had only expected to recover “part” of that 7%, indicating a positive shift in its outlook.
Competitive Edge Over EasyJet and Jet2
When asked about recent comments from British rivals EasyJet and Jet2, which reported later passenger booking trends, Sorahan was firm: “We are not seeing those trends at all.”
He added that these airlines are likely feeling the negative fallout from Ryanair’s resolved conflict with online travel agencies, which has redirected customers directly to the Irish carrier’s website.
Fiscal Year Outlook and Boeing Challenge
CEO Michael O’Leary also shared his perspective: although annual results depend heavily on last-minute bookings in August and September, the fare recovery suggests the company will achieve reasonable net profit growth for the fiscal year ending March 31.
Meanwhile, Ryanair—Boeing’s largest customer in Europe—is closely monitoring the potential imposition of tariffs on commercial aircraft amid trade tensions between the U.S. and the EU. However, Sorahan remained optimistic: “We all have hope, and perhaps a bit of confidence, that some agreement can be reached.”
Ryanair appears poised for a record-breaking summer, with strong numbers, a solid pricing strategy, and a clear competitive advantage over its rivals. All signs indicate that the Irish low-cost giant is stronger than ever.
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