Ryanair managed to make a profit again last quarter, where in the same period last year, a solid loss was recorded. According to financial director Neil Sorahan, the recovery from the corona crisis at the Irish price fighter is still “brittle”. The demand for airline tickets remains “subject” to the news flows about corona and the war in Ukraine.
Ryanair carried 45.5 million passengers in the past period. A year ago there were only 8.1 million. As a result, turnover increased sevenfold to 2.6 billion euros. Under the line, 170 million euros remained. In the same quarter last year, there was still a loss of 273 million euros.
Ryanair increased its capacity above pre-Covid pandemic levels this summer in a bid to gain market share. Compared to other airlines, Ryanair is relatively unaffected by staff shortages at major airports. This may also be due to the fact that the airline also flies a lot at smaller airports.
Strikes
However, the latter could not prevent Ryanair from having to cancel flights recently. That’s because of strikes. For example, Belgian pilots laid down their work last weekend. According to Ryanair, those Belgian cancellations affected more than 13,000 passengers. Spanish Ryanair staff also recently went on strike due to dissatisfaction with the working conditions.
The company does not dare to make estimates for the results for the rest of the year. The uncertainty is still too great for that. New corona developments and the war in Ukraine could put pressure on the demand for airline tickets again. Ryanair had announced a few months ago that it hoped for profit again in its new financial year, after the previous year ended with red numbers.
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