After the difficulties of the pandemic Ryanair returns to profit. The O'Leary-led company filed the 2023 fiscal year ended March with a net profit of 1,43 billion euros, a figure that is close to the record reached in 2018, but which above all allows Ryanair to put behind the loss of 355 million recorded last year.
Ryanair's other numbers
At the end of the 2023 fiscal year, Ryanair achieved a positive result of 1,31 billion euros, driven by the “strong recovery in traffic”'. In the previous year the company had recorded a net loss of 240,8 million euros. The turnover it stood at 10,78 billion euros, compared to 4,80 billion euros the previous year. The carrier also recorded a load factor of 93%, compared to 82% a year earlier.
Ryanair: traffic increases by 74%, fares by 10%
In the reference fiscal year, the air traffic increased by 74% to 168,6 million passengers. Ryanair expects a 10% increase in passengers carried over the summer and a "modest year-over-year increase" in net profit in the current fiscal year during which it expects to carry 185 million passengers at 125% capacity to the period that preceded the pandemic.
Moving on to rates, ticket prices for the summer they are up compared to last year, reaching +10% compared to pre-Covid levels. “To date, Summer 2023 demand is robust and rates for Summer 2023 are ahead of last year. Q2022 tariffs, which benefited from a strong Easter in April compared to very weak previous year due to the Russian invasion of Ukraine will be significantly higher than in the first quarter of 23-XNUMX,” said 'O Leary.
Ryanair expects a fuel bill over $1 billion in the current fiscal year on the assumption that "increased revenue will offset the jump in costs."
