Irish airline Ryanair posted a profit of EUR 1,465.5 million in the first nine months of its financial year (April-December), compared to a loss of EUR 143.3 million in the same period.
In a document published this Monday, the company noted that this growth was due to “strong demand for travel at higher fares (+14% than pre-covid-19), especially in mid-October and at the height of the Christmas season . New Year season”.
During the reporting period, the airline’s revenues increased by 57% to EUR 2,312.1 million and operating expenses increased by 36% to EUR 2,150.4 million, contributing to a quarterly profit of EUR 211 million.
Between October and December, Ryanair carried 38.4 million passengers, 24% more than a year ago, while the load factor, which measures the percentage of seats occupied on each route, increased by nine percentage points to 93%.
Ryanair’s executive president (CEO) Michael O’Leary, quoted in the note, referred to the company “gaining market share in key European Union markets”, with a focus on Italy (from 26% to 40 %), Poland (27% to 38%), Ireland (49% to 58%) and Spain (21% to 23%).
Ryanair’s forecast for the full fiscal year, which ends March 31, is to carry 168 million passengers, but predicts a loss in the final quarter “due to the absence of Easter in the month of March”.
The airline estimates that for the financial year in question it will generate a profit of between EUR 1,325 million and EUR 1,425 million, noting that these references are “highly dependent on the avoidance of adverse effects in the fourth quarter (such as covid-19 and/ or war). in Ukraine)”.
Source: DN
