Ryanair returns to profitalthough nothing to do with the records I had before the pandemic. In the first quarter of your fiscal year –April to June– irish airline won 170 million euros, compared to losses of 273 million euros for the same period of 2021but far from the 243 million euros that the ‘low cost’ achieved in the same period of 2019. But it recovers the ticket price, that among the months of July and September it is located “above the peak of the summer of 2019 by a low double-digit percentage”, that is, greater than 10%.
This is how the first airline by number of passengers in Spain explains it in its presentation of results in which it reveals some revenue of 2,601 million euros, six times more than in 2021 and 12% higher than those of the last year before the pandemic (2019). This achievement was achieved by transporting 45.5 million passengers (93% occupancy) compared to 8.1 million a year earlier. In this sense, the airline recognizes that the invasion of Ukraine had a negative impact on reservations and Easter rates.
Rates fell 4% in the quarter, compared to the same period a year ago, while revenues from ancillary services (baggage, priority boarding, etc.) continue to perform strongly as traffic increases, generating more than 22.50 euros per passenger. The increase in fuel costs stands out, already reaching 1,000 million euros. The company has covered 60% of the fuel for this year and 30% for the next.
One of the main differences compared to 2019 for Ryanair lies in fuel costs, which shot up 30% and already exceed one billion of euros. The company is assured of the price of 80% of the fuel that it will use throughout its fiscal year, which will end in March 2023, and 30% of the following.
The CEO of the airline, Michael O’Learyacknowledges a “very strong but still fragile recovery” marked by “unexpected” events beyond the control of the airline, such as the war in Ukraine and its impact, so that it provides “limited visibility” on what may happen in the second quarter of the year and “null” for the rest despite the “clear signs of pent-up demand” as “bookings stay closer to normal (pre-Covid) this time of year.” But maintains its forecasts of increasing the number of passengers to 165 million for the year as a whole11% more than before the pandemic, within their plans to reach 225 million passengers within five years.
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The company reduces its debt by 400,000 euros to 1,450 million and expects to reduce it to zero within two years of our balance sheet ensures that the group is well positioned to exploit the many growth opportunities that exist in a post-Covid Europe ” says the airline that is immersed in a strike in Spain called by the USO and Sitcpla unions, who represent the cabin crew (TCP)about which he makes no mention.
Ryanair does say that it has reached agreements with unions that represent more than 80% of its pilots and approximately 70% of its ‘stewards’ throughout Europe to “restore” your pre-covid salaries and, he adds, that he hopes to “conclude agreements with the rest in the near future.” The airline also announces that it expects create create 6,000 jobs by 2026 and invest more than 100 million euros in two highly qualified training facilitiesone of them in the Iberian Peninsula.