After two disappointing years due to corona, Ryanair is making a profit again. The airline is raising its profit expectations. The stock immediately jumped 6.7 percent. The price breaker does not seem to be affected by the many strikes.
In the 2021 and 2022 financial years, Ryanair still suffered losses of EUR 355 million and EUR 1.015 billion, respectively, but substantial profits are expected in the current financial year: between EUR 1.325 billion and EUR 1.425 billion. Something that was rewarded on the Dublin stock exchange with a jump of 6.7 percent. Ryanair’s profit figure mainly flew in the first half of the financial year, but it is the strong end of the year that helps explain the even better expectations. After all, for the first time in three years, the end of the year in aviation was not disrupted by corona. It enabled Ryanair to carry 11.5 million passengers in December, 21% more than the same period in 2021.
In early November, the company also said it had its fuel costs under control. For 81% of FY 2023 needs, purchase prices were fixed at an average of $67 per barrel. For the 2024 fiscal year, this was already done for half of the needs at about USD 93 per barrel.
In the 2018 financial year, Ryanair achieved a record profit of 1.45 billion euros. A figure that could therefore be approached for the current financial year. The financial years 2019 and 2020 ended the meter at around 1 billion euros in profit each time.
152 flights canceled this weekend
Ryanair cabin crew is on strike for the second weekend in a row. As a result, the Irish airline has to cancel 152 flights. This concerns 76 flights to and as many flights from Charleroi. In total, 20,000 travelers would be affected. The Irish low-cost carrier says it has informed all passengers. The strike started Friday and will last through Sunday.
The unions are protesting against low wages and poor working conditions. The stewards and flight attendants also stopped work last weekend. Then 86 flights were canceled and 19,000 travelers were affected. According to the unions, 150 to 200 employees took part in the strike. Tomorrow there will also be a demonstration at the courthouse in Bergen.
LOOK. Ryanair flight attendants strike against poor working conditions
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Only one Belgian works as a steward for Ryanair in Charleroi: Irish airline pays so poorly (+)
Ryanair cancels 128 flights this weekend: are affected passengers entitled to compensation? (+)
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