Ryanair records annual record profits of over $2bn | Airlines

Ryanair, Europe’s largest low-cost carrier has recorded the highest annual profits in its history, with rises in passenger traffic and average fares giving the carrier’s finances an extra boost in the financial year ending March 31, 2024.

With a successful 2023 behind it and strong forward bookings at the start of 2024, the Ryanair Group posted a jaw-dropping profit of €1.92 billion ($2.09 billion) for the year. This represents a year-on-year rise of 34% overall. The airline has put this predominantly down to an increase in passenger numbers, as traffic grew by 9% to 183.7 million passengers in the year.

Yield per passenger also increased for the airline group (which also includes Malta Air, Buzz, Lauda Europe, and Ryanair UK) as the average yield rose by 21% to an average of just under €5 ($4.58). Adding to the airline’s bottom line was a 12% rise in ancillary revenue, topping out at an average of €23.40 ($25.50) per passenger.

The average load factor rose by a single percentage point year-on-year to 94% while overall revenues increased to €13.44bn ($14.64bn), an increase of 25% over 2023’s €10.78bn.

Rebius / Shutterstock

The Ryanair Group is preparing to fly its busiest-ever summer season with well over 500 aircraft, both Boeing 737-800s and 737 MAX-8200s as well as a fleet of 27 Airbus A320s operated by Lauda Europe. The Group is also opening five new bases…

Source www.aerotime.aero

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