Ryanair has reported a record annual profit driven by a surge in passenger numbers and higher fares. The Irish budget airline's net profit jumped by a third to €1.92 billion in its financial year, despite facing increased fuel costs. This growth was supported by a 21% rise in average fares to €49.80 and a record 184 million passengers flown over the year. CEO Michael O'Leary noted that higher fares covered the increased fuel costs, contributing to the record profits. However, he also mentioned a 'recessionary feel around Europe' that could slow growth in airfares. Despite the strong performance, Ryanair has indicated that summer fares might be lower than expected due to poor demand. Ryanair's shares are up 14% since 2020.
Ryanair chief says recessionary feeling in Europe is limiting fares https://t.co/sKO6TukK4p
Cheaper air fares and discounts may be on the way, Ryanair says as profits soar https://t.co/h4RwzHziOO
An unexpected airline just reported record profits https://t.co/7lSSpUEzT0
Ryanair said on Monday that its average fare rose 21 per cent to €49.80 over the 12 months to the end of March, the airline’s financial year https://t.co/Evw7rEktdE
Ryanair CEO Michael O’Leary discusses the company’s quarterly earnings results and why prices won’t be as high as hoped during the summer season. https://t.co/Yb2u0v4VRG https://t.co/KazKqGpZGh
Ryanair's annual profits soared to record levels over the financial year ended March. The budget airline flew a record 184 million passengers in that time https://t.co/1WN5VRv5pL https://t.co/cL1lmiCBnN
Ryanair's shares are up 14% since 2020, while low-cost rival easyJet's are down 72%—what is CEO Michael O'Leary getting right? https://t.co/Mn63bUR1S0
RyanAir posts record annual profit as passenger number soar. CEO Michael O'Leary says "Higher fares covered higher fuel costs and we still reported record profits." https://t.co/lMiXSyz1Yk
Ryanair soars to new heights with record profits amidst industry challenges https://t.co/Cd9xXGD4h4 https://t.co/zGeP5lSWEf
✈️ Ryanair forced to slash summer fares in face of poor demand Read more ⬇️ https://t.co/n975MlygPb
Ryanair CEO Michael O'Leary that a 'recessionary feel around Europe' could be a factor in slower-than-expected growth in airfares as the low-cost carrier posted record annual profits https://t.co/P8YTWSfUSj https://t.co/f5g57Pqs7A
Ryanair profits surge after fares climb by 20% https://t.co/u78QdrwAg1
Irish no-frills carrier Ryanair has said group net profit jumped a third to 1.92 billion euros in its financial year as higher demand and fares offset ballooning fuel costs. https://t.co/sgkxv9SRgy
Ryanair has reported another year of record profits and passenger numbers Read more 🔗 https://t.co/jE1A6XYMV8
Ryanair annual profit jumps on higher demand, fares https://t.co/mvR3hhtUYC
Budget airline Ryanair posts record annual profit as passenger numbers soar above pre-Covid level https://t.co/TrCfd0CQq0