Ryanair: Record profits and optimistic outlook

By: Trademagazin Date: 2024. 05. 20. 10:51

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Ryanair has reported a 34% increase in profits for the financial year, reaching a record €1.92 billion, which exceeds the €1.905 billion forecast by analysts. This growth partly stems from the company’s revised post-tax profit expectation set in January, ranging from €1.85 to €1.95 billion. The airline remains cautiously optimistic about the moderate increase in summer fares compared to last year.

Neil Sorahan, Ryanair’s CFO, noted that aircraft deliveries from Boeing’s new Seattle factory are now occurring “a bit more consistently,” expecting an additional two to three aircraft by the end of July. CEO Michael O’Leary indicated that the anticipated rise in summer ticket prices would likely be less than the previously expected 5-10%, heavily dependent on last-minute bookings.

Furthermore, the airline announced the initiation of a €700 million share buyback program. In the financial year ending March 31, Ryanair transported a record 184 million passengers and has set a target to increase this to 198-200 million passengers in the current financial year, a slight decrease from the previously anticipated 205 million due to delays in aircraft deliveries.