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Ryanair swings to profit in third quarter

Published 30/01/2023, 07:55
Updated 30/01/2023, 08:14
Ryanair swings to profit in third quarter

Sharecast - The company swung to a net profit of €211m from a loss of €96m in the same period a year earlier, with revenues up 57% at €1.47bn.

The airline said traffic rose 24% to 38.4m, while third-quarter fares were 14% higher than pre-Covid levels.

It said "strong pent-up travel demand" over the October mid-term and peak Christmas/New Year holiday season - with no adverse impact from Covid or the war in Ukraine - stimulated strong traffic and fares across all markets.

"With Asian tourists now returning and a strong US dollar encouraging Americans to explore Europe, we're seeing robust demand for Easter and summer 2023 flights," the company said.

Ryanair (LON:RYA) reiterated its guidance for FY23 profit after tax of between €1.325bn and €1.425bn and said this remains heavily dependent upon avoiding adverse events in the fourth quarter, such as Covid and/or the war in Ukraine.

Read more on Sharecast.com

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