Ryanair swings to 2023 profit, as revenue beats forecasts on 74% traffic jump
Ryanair Holdings said Monday that it swung to a net profit for fiscal 2023 with revenue beating consensus due to a 74% rise in traffic and higher ancillary revenue, and that it was optimistic it would deliver a modest on-year profit increase in fiscal 2024.
Ryanair said that although it expects traffic to grow to around 185 million in fiscal 2024, recent delivery delays from Boeing may push some of this into its lower-yielding second half, slightly reducing this target. Revenue was EUR10.78 billion, compared with EUR4.80 billion the year before. Ancillary revenue rose to EUR3.84 billion from EUR2.15 billion the year before. Fares for the period were up 10% on prepandemic levels, the company said.
The company said its load factor--a measure of how full a plane is--stood at 93%, compared with 82% the year before, and that traffic reached 168.6 million passengers, a 13% increase on the levels seen in fiscal 2020.
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