The low-cost carrier Ryanair posted a net profit of €1,428 million in the last fiscal year ended March 31, compared to a loss of €355 million in the same period last year.
Ryanair, headquartered in Dublin, said in a statement on Monday that air traffic grew “strongly”, up 74% to 168.6 million passengers, while recording a significant recovery in revenue thanks to progress in its three main markets: Italy, Spain and the United Kingdom.
In this context, Ryanair’s total revenue increased by 124% to EUR 10,780 million, while ancillary revenue increased by 78% to EUR 3,844 million, with an average cost per passenger of EUR 23 for services such as priority boarding, on-board consumption or seat reservation. .
Europe’s leading airline in the ‘low-cost’ flight sector also stressed that the profit increase was driven by its ‘economical’ fuel policy and added that it has met its needs for this year, having acquired 85% ahead at a price of $89 a barrel.
Ryanair also recalled that in the financial year ending at the end of March, it opened five new operating bases and 300 additional routes across the European continent, which, together with the recent announcement of the purchase of up to 300 Boeing 737 MAX aircraft, represents the largest order in its history, led the company to set a goal of 300 million annual passengers for fiscal year 2034.
Of the global turnover, the company highlighted that the Italian market contributed 2,364 million euros, more than 98%, followed by the Spanish market with 1,883 million euros and the UK market with 1,589 million euros, representing increases of 115% and 99% respectively . .
“Our growing cost advantage over all competitors, fuel coverage, strong balance sheet and very low cost aircraft order book, as well as our proven operational resilience, create huge growth opportunities for Ryanair in the coming years,” said the company’s CEO Michael O’Leary. the explanation.
The manager estimates passenger traffic could increase to 185 million a year, though he warned that the “recent delays” in the delivery of new aircraft by the US manufacturer could “slightly lower” this growth target.
O’Leary also said the airline is “cautiously optimistic” about this fiscal year’s revenue, though he is confident the airline will “grow enough” to meet its fuel bill and will see “modest increases in revenue.” to generate”.
“This forecast remains highly dependent on the possibility of adverse events during fiscal year 2024, such as the war in Ukraine or additional and repeated delays in Boeing’s deliveries,” he added.
Source: DN
