File earnings at Ryanair after prices rise – however ticket value cuts might be on the best way

Ryanair has reported one other 12 months of file earnings and passenger numbers.

The common fare on the airline, which is Europe’s largest by passenger numbers, was 21% dearer than 12 months earlier, its annual outcomes confirmed.

But the corporate prompt a lower in ticket costs might be on the best way.

Annual earnings reached €1.92bn (£1.64bn), surpassing the earlier file of €1.45bn (£1.26bn) made within the 12 months ending March 2018.

Passenger numbers additionally outpaced earlier all-time highs and at the moment are properly above pre-pandemic numbers at 184 million – an increase of 23% on the pre-COVID 12 months of 2019.

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Ticket costs

Those passengers paid fares costing a mean of 21% greater than the 12 months as much as March 2023 however Ryanair’s chief govt Michael O’Leary stated if the corporate has to chop fares to have planes 94% full subsequent April, May and June “then so be it”.

While demand is “strong” for summer season flights and its summer season schedule will function over 200 new routes, the low-cost provider stated it remained “cautiously optimistic that peak summer 2024 fares will be flat to modestly ahead of last summer”.

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Boeing headwinds

The passenger enhance has come regardless of Boeing‘s delays in delivering new planes to the airline.

Ryanair had staked a big a part of its monetary success on growth by way of 300 new 737 MAX 10 plane.

But the airplane producer has been beset by delays amid regulatory and media scrutiny of security at its manufacturing websites after a door blew off an Alaska Airlines Boeing 737 MAX 9 jet.

There’s a threat these delays “could slip further”, Mr O’Leary stated.

But Ryanair stated it might obtain “modest compensation” from Boeing for the delays.

The no-frills provider additionally stated its gasoline invoice rose 32% to €5.14bn (£4.4bn).