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Ryanair earns 1,430 million in the fiscal year compared to the losses of the previous year

Fiscal year fees increased 10% from pre-pandemic levels.

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Ryanair earns 1,430 million in the fiscal year compared to the losses of the previous year

Fiscal year fees increased 10% from pre-pandemic levels

MADRID, 22 May. (EUROPA PRESS) -

The low-cost airline Ryanair has announced on Monday its results for the fourth fiscal quarter and for the full year ended on March 31, with losses in the quarter of 154 million euros, but a net profit for the year of 1,430 million euros. Compared to the red numbers of 355 million euros from the previous year affected by the pandemic. Fiscal year fees increased 10% from pre-Covid-19 levels.

The company has indicated that these results are due "to the strong recovery in traffic during the year, the improvement in rates, a leading cost base in the sector and some advantageous fuel coverage".

Total revenue for the fiscal year reached 10,780 million euros, representing an increase of 124% compared to 4,800 million in the previous fiscal 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%, up to 168.6 million passengers (13% over the traffic in the 2020 financial year). The load factor stood at 93% compared to 82% the previous year

Annual fees increased by 10% from pre-Covid levels, and unit costs without fuel fell to €31.

Ryanair's market share has grown "significantly" in most of the European Union (EU) markets, since in financial year 2023 it operated 116% of its pre-Covid capacity, as explained by the company.

The most significant increases were registered in Italy (from 27% to 40%), Poland (from 26% to 36%) and Ireland (from 49% to 58%).

The forecasts for this summer are very positive. This summer the airline plans to operate the largest schedule in its history, with almost 2,500 routes and more than 3,000 daily flights "taking advantage of the restoration of traffic and the multi-year growth agreements negotiated by its new route teams."

"Structural capacity reductions in the EU following the numerous bankruptcies or fleet reductions of European airlines during Covid, high oil prices (which deter weaker and uninsured airlines from adding capacity), shortages of aircraft (new and leased) and the return of Asian and US visitors to Europe (due to the strong dollar) mean that, although European short-haul capacity remains below pre-Covid levels, demand is remarkably strong," explained Ryanair.

Looking ahead to the next fiscal year, Ryanair expects to increase traffic to 185 million users (10%), although the recent delays in Boeing deliveries may slightly reduce this objective. Likewise, it foresees an increase in costs, especially in the case of fuel coverage.

The company concludes that its growing unit cost advantage over all its competitors, its fuel coverage, strong balance sheet and very low-cost aircraft order book, as well as its proven operational resilience, "create tremendous growth opportunities in the next years"

Keywords:
Ryanair