The low-cost airline Ryanair obtained a net profit of 1,428 million euros in the last fiscal year, until March 31, compared to losses of 355 million euros in the same period of the previous year.
Based in Dublin, Ryanair reported today, in a statement, that its air traffic grew “strongly”, increasing by 74%, to 168.6 million passengers, while registering a significant recovery in revenue thanks to advances in its three main markets: Italy, Spain and the United Kingdom.
In this context, Ryanair’s total billing increased by 124%, to 10,780 million euros, while complementary revenues grew by 78%, to 3,844 million euros, with an average cost per passenger of 23 euros in services such as priority boarding, consumption on board or seat reservation.
The leading airline in Europe in the ‘lowcost’ flight sector has also highlighted that the increase in profit is driven by its “advantageous” fuel policy and has added that it has its needs covered for this year, after acquiring 85% in advance at a price of $89 per barrel.
Ryanair also recalled that in the fiscal year that ended at the end of March it opened five new operating bases and 300 additional routes on the European continent, which, together with the recent announcement of the purchase of up to 300 Boeing 737 MAX aircraft, the largest order of its history, led the company to set a goal of 300 million passengers per year by fiscal year 2034.
Of 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, and the British market, with 1,589 million euros, representing increases of 115% and 99%, respectively. .
“Our growing unit 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 tremendous growth opportunities for Ryanair in the coming years.” years,” said company chief executive Michael. O’Leary said in the statement.
The manager estimates that passenger traffic could increase to 185 million per year, although 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 revenue this fiscal year, though confident it will “grow enough” to cover its fuel bill and “deliver a modest increase in profit.”
“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 deliveries,” it added.
Source: TSF
