{"id":133256,"date":"2022-11-07T18:00:00","date_gmt":"2022-11-07T18:00:00","guid":{"rendered":"https:\/?p=133256"},"modified":"2022-11-08T00:19:11","modified_gmt":"2022-11-08T00:19:11","slug":"ryanair-posts-record-profit-for-key-summer-season","status":"publish","type":"post","link":"https:\/\/aviacionaldia.com\/en\/2022\/11\/ryanair-posts-record-profit-for-key-summer-season.html","title":{"rendered":"Ryanair posts record profit for key summer season"},"content":{"rendered":"\n

Ryanair<\/strong> on Monday posted its largest ever profit for its key summer season and said it expected very strong passenger and fare growth for years to come.<\/p>\n\n\n\n

But it also warned Europe’s recovery remained susceptible to shocks from COVID-19 and Russia’s invasion of Ukraine, and said aircraft delivery delays from Boeing could hit its capacity next summer, Reuters<\/a> reported.<\/p>\n\n\n\n

\u2192 Ryanair says inflation can be beneficial for the airline.<\/a><\/em><\/strong><\/p>\n\n\n\n

The Irish airline, Europe’s largest by passenger numbers, earned 1.371 billion euros ($1.36 billion) in the six months to the end of September, the first half of its financial year.<\/p>\n\n\n\n

While that was just short of a forecast of 1.385 billion in a company poll of analysts, it was well ahead of its previous first-half record of 1.29 billion euros in 2017.<\/p>\n\n\n\n

“Concerns about the impact of recession and rising consumer price inflation on Ryanair\u2019s business model have been greatly exaggerated,” Chief Executive Michael O’Leary said.<\/p>\n\n\n\n

“We expect these strong fundamentals will continue to underpin robust traffic and average fare growth for the next 18-months at least. Profits and traffic are poised for “very strong growth” through 2025, assuming oil prices remain relatively stable, O’Leary added in a video presentation.<\/p>\n\n\n\n

\u2192 Ryanair announces new winter route between Cardiff and Faro.<\/a><\/em><\/strong><\/p>\n\n\n\n

O’Leary said the July-September quarter had delivered growth on a scale he had never seen, with 15% traffic growth combined with a fare rise of 14% thanks to the combination of pent-up demand and the post-COVID retrenchment of rivals.<\/p>\n\n\n\n

Chief Financial Officer Neil Sorahan said Ryanair expects “significant consolidation and the bankruptcy of some airlines” in the next three to four years.<\/p>\n\n\n\n

O’Leary indicated that Ryanair could be left as the only major low-cost airline in Europe.<\/p>\n\n\n\n

Ryanair plans to grow from a record 168 million passengers this financial year to 185 million next.<\/p>\n\n\n\n

However, while the airline anticipates delivering 51 737 MAX aircraft by next summer, O’Leary said he was concerned that Boeing would come up short.<\/p>\n\n\n\n

“I think it’s more likely that Boeing will leave us short and we’ll end up with an additional 40 to 45 aircraft by next summer,” O’Leary added.<\/p>\n\n\n\n

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