fbpx
HomeTravel NewsRyanair Profits Boosted by Strong Christmas and New Year Passenger Demand

Ryanair Profits Boosted by Strong Christmas and New Year Passenger Demand

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.

Geoff Percival
Geoff Percival
Geoff has worked in business, news, consumer and travel journalism for more than 25 years; having worked for and contributed to the likes of The Irish Examiner, Business & Finance, Business Plus, The Sunday Times, The Irish News, Senior Times, and The Sunday Tribune.
Logo
2,920 Followers
Follow

Must Read