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Ryanair First-Quarter Profit More Than Doubles on Fare Hikes and Easter Timing

The carrier posted €820 million in after-tax profit as average ticket prices rose 21%, but it predicts only 3% full-year passenger growth due to ongoing aircraft delivery setbacks.

Two Boeing 737-8AS passenger aircrafts of Ryanair airline, taxi on a runway at Malaga-Costa del Sol airport, in Malaga, Spain, May 3, 2024. REUTERS/Jon Nazca/File Photo
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Ryanair carried 57.9 million passengers in its first quarter, a year-on-year increase of 4 per cent
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Overview

  • Ryanair’s profit after tax climbed to €820 million for the quarter ending June, up from €360 million a year earlier.
  • Revenue increased 20% to €4.34 billion, buoyed by the late timing of Easter and stronger last-minute bookings.
  • The average fare rose 21% year-on-year to €51, nearly offsetting last year’s 7% full-year fare decline.
  • Passenger traffic grew 4% to 57.9 million at a 94% load factor, but Boeing 737 MAX delivery delays continue to constrain capacity.
  • The airline forecasts just 3% growth in full-year passengers and warns its performance remains exposed to geopolitical tensions, tariff disputes and air traffic control disruptions.