Ryanair reports profit after ‘strong’ Christmas
Ryanair has reported a Q3 net profit of €211m, compared to a pre-Covid profit of €88m, citing “strong pent-up travel demand over the October mid-term and peak Christmas/New Year holiday…
Ryanair has reported a Q3 net profit of €211m, compared to a pre-Covid profit of €88m, citing “strong pent-up travel demand over the October mid-term and peak Christmas/New Year holiday season”.
The low cost carrier said there had been “no adverse impact from Covid or the war in Ukraine” and the European airline has enjoyed “strong traffic and fares across all markets”.
During Q3, Ryanair said traffic jumped 24 per cent to 38.4m (up 7 per cent pre-Covid in FY20).
Q3 fares were also up 14 per cent on pre-Covid levels.
Strong market share gains
CEO Michael O’Leary said: “Ryanair secured strong market share gains in key EU markets as we operated 112 per cent of our pre-Covid capacity during the first nine months of FY23.
“Most notable gains were in Italy (from 26 per cent to 40 per cent), Poland (27 per cent to 38 per cent), Ireland (49 per cent to 58 per cent) and Spain (21 per cent to 23 per cent).
“Our Routes team continue to negotiate traffic recovery growth deals with airport partners as competitors struggle to recover capacity (down as much as 20 per cent this winter) and grapple with rising costs.”
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