Ryanair has said a combination of strong Christmas and New Year passenger bookings and low costs pushed it to a better-than-expected profit in the three months to the end of December – the third quarter of its current financial year.
The airline posted an after-tax profit of €211m for the quarter; a turnaround from a net loss of €96m for the same period in 2021.
Passenger numbers grew by 24%, year-on-year, to 38.4 million people, with load factor – which measures a planes fullness – improving from 84% to 93%. Ryanair’s revenues for the third quarter jumped 57%, year-on-year, to €2.31bn.
While Ryanair expects its fourth quarter to be loss making – due to Easter falling outside of its financial year this year – it has kept intact its full-year profit guidance of €1.325bn-€1.425bn.
“While bookings continue to be closer-in than in Spring 2020, pre-Covid, we have reasonable visibility for the remainder of [financial year] 2023, with full-year traffic guided at 168 million,” said Ryanair group chief executive Michael O’Leary.
The airline said bookings remain strong.