Ryanair has significantly raised its annual profit expectations on the back of a continued surge in passenger demand since the resumption of international travel following the worst of the Covid pandemic crisis.
The airline expects to show an after-tax profit of between €1.325bn and €1.425bn for its current financial year, which runs through to the end of March.
This forecast is up from its previous guidance of a €1bn-€1.2bn profit range for the financial year. Ryanair is due to issue third quarter financial results – covering the three months to the end of December – at the end of January.
In a brief update, the airline said it expects to report a “stronger than expected” third quarter, with profits for the three months being close to €200m.
It also said it had seen “strong pent-up travel demand over the holiday season for the first time in three years, with no adverse impact from Covid or the war in Ukraine”.
Ryanair said its updated profit expectations remain “heavily dependent” on avoiding adverse events in the next three months; the final quarter of its financial year.
It does, however, fully expect its fourth quarter to be a loss-making three month period given a recent softening in UK and Ireland outbound traffic and pricing and Easter falling in April this year, rather than March.
