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Ryanair posts record profit
Ryanair’s parent just reported a full-year airline profit of €1.92bn, up by more than one-third on the previous year.
Traffic grew 9% to 184m passengers which is up by 23% on pre-Covid levels.
Total FY24 revenue rose 25% to €13.44 billion and revenue per passenger was up 15%, with the average fare up by 21%.
The airline said ancillary sales increased 12% to €4.3 billion.
Ryanair’s strong airline profit comes despite operations being impacted by 67 days of ATC strikes, it says.
This caused thousands of flight cancellations to/from Germany, Spain, Italy and the UK.
During FY24, Ryanair’s EU ownership continued to increase and was just over 48% at the year-end.
Ryanair’s fleet included 146 Boeing 737 Max aircraft at year-end and it hopes to increase this to 158 by the end of July.
This would be 23 short of its contracted Boeing deliveries.
Ryanair will operate its largest ever summer schedule with over 200 new routes and 5 new bases.
Ryanair expects to grow FY25 traffic subject to Boeing deliveries returning to contracted levels before the year-end.
“With EU short-haul capacity constrained, summer 2024 demand is positive, with bookings trending ahead of last year,” Group CEO Michael O’Leary said.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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