ryanair Recorded a net profit of 2 billion 190 million euros As reported by the company this Monday, for the first nine months of the fiscal year ending December 31, this figure represents an increase of 39% compared to the same period in the previous year.
The firm reported a net profit of 15 million euros in the third quarter of the financial year, 93% less than the 211 million euros recorded in the same period the previous year, as the increase in fuel costs offset the increase. in income.
The company’s revenue increased by 26% to €11.27 billion in the first nine months of the financial year, while operating costs increased by 25% to €8.88 billion.
Ryanair’s CEO, Michael O’Leary, emphasized: The firm continues to call for urgent reform of the “ineffective” European air traffic control system. This would mean a “more significant” environmental improvement in air transport in the European Union (EU).
In this sense, “Unfortunately, the European Commission (EC) has done nothing on this issue, which is why its president asks Ursula von der Leyen to once again defend the single air transport market by protecting it 100 percent.” Extreme flights during strikes.
Lowering the estimates
For your part, Ryanair has lowered its net profit forecasts for this year to a range of 1,850 to 1,950 million euros. previously it was between 1,850 and 2,050 million euros.
In this sense, he explained that this forecast and the result for the full year “are largely dependent on preventing unforeseen negative events in the fourth quarter, such as the war in Ukraine, the conflict between Israel and Hamas, and new delays in Boeing deliveries.”
The company will pay an interim dividend of 0.175 euros per share on February 28, as announced last November.
Average rates are increasing
The company explained this in detail Traffic increased 7% to 41.4 million in the third fiscal quarter. Average fares rose 13% to over €42, thanks to “the good performance of flights in mid-October and peak travel over Christmas and New Year,” according to Ryanair.
Again, The company announced that shipping and prices were lower than expected Due to the “sudden withdrawal of many pirate OTAs from Ryanair flights in early December”.
Changes in the board of directors
The company explained this in detail Former CEO of Italian company ENAV joins Ryanair’s board of directors His entry as a non-executive director will be effective from 1 February.
He also stated that both Louise Phelan and Michael Cawley would not stand for election. to be re-elected at the general assembly meeting shareholders, It will be held in September and they will leave the council at that time.
The company has appointed Róisín Brennan as a ‘senior’ independent director as of 1 April.