23 C
New York
Saturday, August 13, 2022

Ryanair wants to offer more flights

- Advertisement -
- Advertisement -

Status: 07/25/2022 10:48 a.m.

Irish airline Ryanair posted a surprisingly high profit this spring. The airline wants to offer 15% more flights in summer than before the pandemic.

Europe’s largest low-cost airline, Ryanair, made a surplus of around 188 million euros in the first quarter of this year. The company announced this today in Dublin. Analysts expected a weaker quarter. Excluding transactions to cover fuel costs, the result was around €20m higher than expected at €170m.

A year ago, the airline recorded less than 273 million euros over the same period. However, the group has not yet reached the figures of the pre-pandemic period: in the first quarter of the 2019 financial year, the airline had made a profit of 243 million euros.

Higher usage than the same period of the previous year

From the beginning of April this year to the end of June, 45.5 million passengers flew with Ryanair, almost five and a half times more than the same period last year. Machine utilization increased from 73% to 92%. During this period, sales increased sevenfold to reach 2.6 billion euros.

The airline expects a total of around 165 million passengers for the current financial year until the end of March 2023. According to its own estimates, Ryanair wants to offer around 15% more flights in summer than before the pandemic. According to Ryanair boss Michael O’Leary, there should be no flight cancellations – as already announced by other airlines. We remain confident that 100% of scheduled flights can be carried out, he said.

uncertainties remain

Despite the good quarter, Ryanair is unwilling to make any predictions on how the next few months might affect business. A new wave of pandemics cannot be ruled out in the fall, O’Leary said of the figures presented.

The unpredictability of fuel prices and geopolitical risks also made it impossible to forecast the airline’s profit for the full fiscal year 2022/2023. According to the company, it has covered 80% of its fuel costs for the remainder of the current fiscal year.

“Any forecast can change very quickly due to unexpected events beyond our control and we are now in a very strong, but still fragile, recovery.” Although a return to profitability at pre-corona levels is assumed, it cannot be certain that this will happen this year or next.


Source www.tagesschau.de

- Advertisement -

New Articles