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Ryanair makes record Q3 airline profit
Wednesday, 31 Jan, 2023
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Ryanair Holdings posted a record third-quarter airline profit.
It made €211m thanks to strong demand between half-term and the peak Christmas/New Year holiday season.
It upgraded its full-year airline profit guidance.
There is strong demand for Easter and summer flights, CEO, Michael O’Leary, said.
Q3 scheduled revenue increased by almost 85% to €1.45bn.
Ancillary revenue generated an average €22.50 per passenger.
Total quarterly revenue rose 57% to €2.31bn.
However operating costs were up 36% to €2.15bn due to higher fuel costs.
Its jet fuel requirements are 88% hedged.
Ryanair says a loss is likely for the January to March fourth quarter, as it doesn’t include the busy Easter period this year.
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