Despite a number of headwinds, Ryanair is expecting this financial year 2024 to end with a profit after tax of between €1.85 and €2.05 billion, up from €1.43 billion reported over FY23. While forward bookings look good and fares are up by a mid-teen percentage, the first months of 2024 offer little visibility. Going into next year, Ryanair is concerned the most about delayed aircraft deliveries and rising fuel costs.
Ryanair reported a €2.178 billion net profit for its first half year from March to September, up from €1.371 billion in the same period last year. Revenues were up to €8.575 billion from €6.616 billion. Passenger revenues grew by 37 percent to €6.074 billion from €4.425 billion and ancillary revenues by 14 percent to €2.501 billion from €2.191 billion. Expenses were up by 24 percent to €6.159 billion, with fuel costs up by 29 percent to €2.815 billion. Staffing costs were also up, reflecting the pay restoration that Ryanair promised last year, having cut back wages during the pandemic. The operating profit was €2.416 billion, up from last year’s €1.546 billion.
Active as a journalist since 1987, with a background in newspapers, magazines, and a regional news station, Richard has been covering commercial aviation on a freelance basis since late 2016.
Richard is contributing to AirInsight since December 2018. He also writes for Airliner World, Aviation News, Piloot & Vliegtuig, and Luchtvaartnieuws Magazine. Twitter: @rschuur_aero.
