Ryanair earns 1430 million euros in the fiscal year, compared to the previous year’s losses
Low-cost airline Ryanair on Monday reported its results for the fourth fiscal quarter and for the full year ending March 31, with a loss for the quarter of 154 million euros, but a net profit for the year of 1,430 million euros. Compared to the red figures of 355 million euros for the previous year affected by the pandemic. Fiscal year rates are up 10% from pre-COVID-19 levels.
The company indicated that these results are well deserved.To the strong recovery of traffic In the year, improvement in pricing, a segment-leading cost base and some beneficial fuel coverage.”
Total revenue for the financial year was €10,780 million, an increase of 124% compared to €4,800 million in the previous financial year.
Despite the fact that the first quarter was affected by Omicron and the war in Ukraine, traffic in the fiscal year increased by 74%, to 168.6 million passengers (+13% over traffic in 2020). Load factor was 93% compared to 82% in the previous year
Annual fees have increased by 10% over pre-Covid levels, and unit costs without fuel have fallen to €31.
Ryanair’s market share has grown “significantly” in most European Union (EU) markets, where in fiscal 2023 it operated 116% of its pre-Covid capacity, the company explained.
The largest increases were recorded in Italy (from 27% to 40%), Poland (from 26% to 36%) and Ireland (from 49% to 58%).
The outlook for this summer is very positive. This summer, the airline plans to run the largest schedule in its history, with nearly 2,500 routes and more than 3,000 daily flights “to take advantage of the traffic recovery and multi-year growth agreements negotiated by the new route teams.”
Structural capacity reductions in the European Union following the numerous bankruptcies or fleet cuts of European airlines during Covid, high oil prices (which prevent vulnerable and uninsured airlines from increasing capacity), shortages of aircraft (new and leased) and the resurgence of Asia and the United States. Visitors to Europe (due to a strong dollar) means that although short-distance transport capacity in Europe remains below pre-Covid levels, demand is remarkably strong,” explained Ryanair.
Looking into the next fiscal year, Ryanair expects traffic to increase to 185 million users (+10%), although recent delays in Boeing deliveries may slightly reduce that target. Likewise, it expects an increase in costs, particularly in the case of fuel coverage.
The company concludes that its increased unit cost advantage over all of its competitors, fuel coverage, strong balance sheet and very low cost aircraft order book, as well as its proven operational flexibility, “create tremendous growth opportunities in the years to come.” years