Profits almost halved for Ryanair in the first quarter of the financial year which began on April 1st due to lower than expected tariffs, but also to an unfavorable calendar which made Easter fall on March 31st, making it coincide with the end of the 2023-2024 financial year. In Dublin the title of the Irish airline opened down by more than 11 percentage points and at mid-morning it marked -12,59% at 14,38 pounds.
The Ryanair quarterly
The first three months of the 2024-2025 financial year closed for Ryanair with a profit after taxes equal to 360 million euros, down 46% compared to 663 million euros in the same period last year. Contributing to the collapse is the reduction in average tariffs per passenger, decreased by 15% in the quarter. The company, CEO Michael O'Leary explained in a note, was forced to implement a "more demanding pricing policy than previously expected" to support demand.
Going forward with the data, over the three months revenues amounted to 3,63 billion, essentially stable (-1%) compared to last year despite the10% increase in passengers transported, reaching 55,5 million. The increase in prices also weighed on the results operating costs, equal to +11%. “Although traffic increased by 10% to 55,5 million” passengers, this came at the cost of higher discounts than expected”, the company underlined.
CEO O'Leary: “Lower prices even in summer”
“Although second quarter demand is strong, prices remain lower than we expected and we expect the second quarter rates are substantially lower compared to last summer,” CEO Michael O'Leary said again.
For the full financial year, Ryanair expects a 8% traffic growth, equal to 200 million passengers, provided that it does not suffer further delays in deliveries of new Boeing planes.
