Ryanair profits down nearly 20% despite strong traffic growth
Ryanair has announced a half-year after-tax profit of €1.79 billion, down 18% from the same period last year, when it recorded a €2.18 billion profit.
The decline was attributed to…
Ryanair has announced a half-year after-tax profit of €1.79 billion, down 18% from the same period last year, when it recorded a €2.18 billion profit.
The decline was attributed to a 7% drop in average air fares in the second quarter, despite strong growth in passenger numbers.
In the first half, Ryanair’s passenger traffic rose by 9% to a record 115 million customers, even as the airline faced ongoing delays with Boeing aircraft deliveries.
The average fare for the period dropped by 10%, with a 15% decrease in Q1 and a 7% fall in Q2, reflecting a challenging pricing environment for the airline.
Key H1 developments include the addition of 200 new routes and the opening of five new bases for the Summer 2024 season. The airline also expanded its fleet, which now includes 170 Boeing 737 MAX aircraft out of a total of 608.
To mitigate fuel cost volatility, Ryanair extended its hedges, with 85% of H2 fuel covered at $79 per barrel and 75% of FY26 hedged at $77 per barrel.
Ryanair also returned €700 million to shareholders in an August buyback and has completed over 30% of an additional €800 million buyback programme.
An interim dividend of €0.223 per share has been declared, payable in February 2025.
