Ryanair hails ‘very strong’ recovery with record summer profit

Ryanair on Monday posted its largest ever after-tax profit for its key summer season and said it expected very strong passenger and fare growth for years to come as customers switch from higher-cost rivals.

But it also warned Europe’s recovery remained susceptible to shocks from COVID-19 and Russia’s invasion of Ukraine, and said aircraft delivery delays from Boeing could hit its capacity next summer.

The Irish airline, Europe’s largest by passenger numbers, earned 1.371 billion euros ($1.36 billion) in the six months to the end of September, the first half of its financial year.

While that was just short of a forecast of 1.385 billion in a company poll of analysts, it was well ahead of its previous first-half record of 1.29 billion euros in 2017. Ryanair’s shares were up 3.5% at 0925 GMT.

via Reuters