Ryanair Returns to Profit, Raises Traffic Guidance

Washington — Budget airline Ryanair announced a return to profit for the half-year period which ended on September 30, the company reported on Monday.

The Irish airline said its profit was €1.26 billion ($1.25 billion) or €1.1 per share, compared to a net loss of €47.6 million or €0.04 per share in the previous year.

Pre-exceptional profit after tax for the period was €1.37 billion, compared to a pre-Covid half year profit of €1.15 billion, due to record in the second quarter traffic, strong operational reliability and robust summer fares which in the second quarter were 14% up on pre-Covid pricing.

Total operating revenues for the quarter grew to €6.62 billion, up from €2.15 billion euros in the prior year.

While it remained dependent on Boeing meeting their delivery commitments, Ryanair modestly raised its fiscal year 2023 traffic guidance to 168 million passengers, up from prior outlook of 166.5 million passengers.Looking ahead for fiscal year 2023, Ryanair expects that it will minimize its winter losses which would deliver a profit after tax (pre-exceptionals) in a range of €1 billion to €1.20 billion.

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