The attempt to return to normal after more than two years of pandemic and restrictions is good for Ryanair's coffers which in the 2021/2022 financial year drastically reduced the net loss, which fell from 1 billion to 355 million at the end of March (-364 million the Citi estimate and -370 million that of the consensus). The merit is all of the resumption of air traffic which, in view of the summer season, bodes well for the future. Ryanair expects to return to profitability as early as this year, although the company's CEO, Michael O'Leary, has admitted it is "impractical, if not impossible" to provide a reasonable or accurate range of profit indications. until the second half of the current year.
Moving forward with the data, the turnover of the airline driven nearly tripled to 4,8 billion, with a sharp increase in the number of passengers carried, rising to 97 million in 2021/22. However, the figure still remains below the pre-pandemic period, when Ryanair carried 149 million passengers. For the year 2022/2023, the company expects to return to pre-Covid levels, climbing to 165 million passengers.
Another positive note concerns the debt, which was reduced to 1,45 billion from the previous 2,3 billion. Ryanair expects to be net cash by March 2024, despite cumulative investments of 4,3 billion over the next two years.
“The harmful effect of Omicron variant and the invasion of Ukraine” have further reduced prices; nevertheless Ryanair believes that the fares for this summer “will be slightly higher than those for the 2019 summer season”. The carrier covered 80% of its kerosene purchases, but the uncovered 20% "will lead to unforeseen cost increases," Ryanair said in a statement.
