Ryanair reported better-than-expected annual results on Monday, thanks to higher prices, while announcing the distribution of 700 million euros to its shareholders through share buybacks.

This morning, the Irish airline reported a 34% rise in after-tax profits to 1.92 billion euros for the 12 months to the end of March, against analysts' expectations of a 1.90 billion euro profit.

Annual sales rose by 25% to 13.44 billion euros, on the basis of a 9% increase in passenger traffic to 183.7 million and a 21% increase in the average price per seat.

For its new financial year 2024/2025, Ryanair said it expected traffic to grow by 8%, to between 198 and 200 million passengers, although it conditioned this target on future deliveries of Boeing aircraft.

Although it referred to "limited" visibility, the carrier said it was "cautiously optimistic" about the evolution of its fares, predicting stable or even slightly higher prices during the summer season after the record levels achieved in the second half of last year.

In light of its cash surplus, the group announced the launch of a 700 million euro share buyback, which should be implemented in the coming days.

On the Dublin Stock Exchange, Ryanair shares were down 1% on Monday morning, after opening the session up 0.9%. The share price has fallen by around 5% since the start of the year.

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