On November 7, 2022, Ryanair announced record after-tax profit ever for its crucial summer travel period (April 2023) and hoped that the strong growth in the number of passengers and fares would continue as customers migrate from more expensive rivals.
However, the low-cost carrier also stated that the recovery in Europe remained vulnerable to events such as the COVID-19 pandemic and the Russia-Ukraine conflict, and delay in the delivery of Boeing aircraft, which could affect its capacity as the next summer, April 2023, rolls around. It said that worries about how the recession and rising consumer price inflation would affect Ryanair’s business strategy have been grossly overdone. For at least the next 18 months, the company expects these solid fundamentals to translate into huge traffic and growth in fare.
Profit and traffic should register an “extremely high increase” through 2025 if oil prices remain steady. Due to a mix of pent up demand and competitors cutting back after the pandemic, Ryanair registered growth in the July–September 2022 quarter with a 15% increase in traffic and a 14% increase in fare.
Sales for November and December 2022 are still very good, but the first three months of 2023 are not very predictable. In recent weeks, several competitors remained bullish, with Wizz Air, British Airways owner IAG, and Lufthansa stating that sales were still strong despite concerns about inflation. From 168 million passengers in the fiscal year 2022 to 185 million in 2023, Ryanair expects considerable growth.
Don’t wait - discover a universe of connected data & insights with your next search. Browse over 28M data points across 22 industries.
Access more premium companies when you subscribe to Explorer