Ryanair, the Dublin based low-cost carrier, reported a net profit of €1,428 million for its latest financial year, which ends on 31 March. This turned around a €355 million loss seen in the same period a year earlier, signaling a strong rebound for the airline.
The carrier noted a robust rise in air traffic, with passenger numbers climbing 74 percent year over year to reach 168.6 million. Revenue climbed in the three core markets of Italy, Spain, and the United Kingdom, contributing to a solid overall performance across the network.
In this period, total invoicing reached €10,780 million, up 124 percent from the prior year, while ancillary revenues advanced 78 percent to €3,844 million. The average spend per passenger on services such as priority boarding, onboard purchases, and flight reservations stood at €23, supporting higher value per traveler and a stronger revenue mix.
Ryanair, a dominant force in Europe’s low-cost segment, highlighted a favorable fuel strategy, with approximately 85 percent of annual fuel needs secured in advance as crude oil hovered around $89 per barrel on average during the year.
Additionally, the airline opened five new bases by March and added 300 routes. The decision to purchase up to 300 Boeing 737 MAX aircraft, together with the largest order in the company’s history, positioned Ryanair to pursue a target of 300 million passengers annually by fiscal year 2034.
Global invoicing showed notable regional strength, with €2,364 million generated in Europe, rising sharply from €1,883 million in the previous year, and the British market contributing €1,589 million, reflecting increases of 115 percent and 99 percent respectively. Spain also delivered a substantial improvement, underscoring a broad, continent wide uplift in demand across the network.
The management team pointed to an improved unit cost advantage relative to competitors, sustained fuel coverage, a solid balance sheet, a very low-cost aircraft order book, and proven operational resilience as factors creating meaningful growth opportunities for Ryanair in the years ahead. CEO Michael O Leary expressed cautious optimism for the current fiscal year, noting confidence that revenue growth can cover fuel costs and deliver a modest rise in profit.
Looking forward, the executive suggested passenger traffic for the year could approach 185 million, though delivery delays for new aircraft from the United States manufacturer could slightly temper that growth trajectory.
O Leary emphasized a measured outlook for the year, acknowledging that while revenue may rise, the path will largely depend on avoiding potential negative events such as geopolitical tensions or continued delays in aircraft deliveries for fiscal 2024. The tone remained optimistic about resilient demand and continued progress in maintaining cost discipline and service offerings.
Attribution: Ryanair annual results briefing and public disclosures provide the basis for these figures and outlooks.