AAirlines

Ryanair increases net profit by 34% to 1,917 million euros

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Irish low-cost airline Ryanair posted a net profit of €1.917 billion in its last fiscal year (to March 31), 34% more than in the previous period, when it earned €1.428 billion.

The company said Monday in a statement that its air traffic increased 9% to 183.7 million passengers, despite delays in the delivery of aircraft orders by Boeing.

Ryanair also reported revenues of 13.44 billion euros through March, 25% more than in the previous fiscal year.

Its CEO, Michael O’Leary, explained in the note that air fares rose 21% in the period, to 49.80 euros per ticket, thanks to a rebound in traffic in a “record” first half of the year, boosted by the Easter vacations at the end of March.

Significant increase in fuel bills

Passenger revenues grew by 15%, which offset, the executive pointed out, the significant increase in the fuel bill, which reached 5.14 billion euros, up 32%.

Of global turnover, the company highlighted that the Italian market contributed 2,853 million euros, up 20%, followed by the Spanish market, with 2,416 million euros, and the British market, with 2,031 million euros, representing increases of 28% and 27%, respectively.

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Looking ahead to the next fiscal year, O’Leary said he expects to carry between 198 million and 200 million passengers, an 8% increase, provided the U.S. manufacturer meets its aircraft delivery schedule by the end of this year.

Limited” capacity for medium-haul flights in the European Union

O’Leary warned that capacity for medium-haul flights within the European Union is “limited”, although demand for tickets for this summer is “positive”, as evidenced by a spike in advance bookings for that period in 2023.

However, he stressed that it is still too early to provide a precise analysis on the results forecast for the next fiscal year.

“The bottom line for the 2015 financial year will depend largely on the ability to avoid adverse events during the year, such as wars in Ukraine and the Middle East, disruptions caused by air traffic controllers’ strikes or further delays in Boeing deliveries,” O’Leary added.

With information from EFE

Plataforma Informativa de Aviación Comercial líder en América Latina.

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