TOP NEWS: Ryanair half-year profit surpasses pre-pandemic figures

(Alliance News) - Ryanair Holdings PLC on Monday posted half-year results that showed profit, revenue and passengers carried all exceeding pre-pandemic levels.

The Dublin-based budget airline said that, in the six months to September 30, revenue trebled year-on-year to EUR6.62 billion from EUR2.15 billion. The recent figure was 23% higher than EUR5.39 billion three years ago, meaning before the Covid-19 pandemic.

Ryanair swung to an interim pretax profit of EUR1.55 billion from a EUR99.9 million loss in the first financial half of 2021. This beat pre-pandemic profit of EUR1.26 billion.

Earnings per share rose to EUR1.11 from EUR1.02 three years ago and swung from a loss of EUR0.04 a year ago.

Ryanair carried 95.1 million customers during the recent six months, more than doubled from 39.1 million a year before and exceeding 85.7 million three years ago. The load factor improved to 94% from 79% a year prior but was below 96% three years ago.

Ryanair raised its traffic guidance for its current financial year, which ends on March 31, to 168 million passengers, up 13% from 148.6 million three years ago and up 71% from 97.1 million in financial 2022.

Looking ahead, Ryanair said bookings are strong but the economic situation is "fragile". It also noted that the key Easter holiday will be on April 9 and so fall into financial 2024.

"The recovery for the remainder of financial year 2023 remains fragile and could yet be impacted by new Covid variants or adverse geopolitical events such as Ukraine. However forward bookings, both traffic and fares remain strong over the October school mid-terms and into the peak Christmas travel period. We hope to avoid any repeat of last year's Omicron lockdowns which damaged last Christmas at such short notice," Ryanair said.

"As is normal, at this time of year, we have almost zero visibility into the fourth quarter which is traditionally our weakest quarter and which this year doesn't have any Easter benefit."

By Tom Budszus; [e-mail]

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