The Ryanair group has achieved a profit of 1,430 million euros in its fiscal year, which ended in March, as announced by the airline today. The company had lost 355 million euros the previous year, still marked by the restrictions of the pandemic. It is now close to record figures and after gaining share in key markets it is “cautiously optimistic” about the improvement in figures, expecting moderate profit growth supported by “remarkably robust demand”.

Traffic grew 74%, to 168.6 million passengers, 13% above the year prior to the outbreak of the covid, with 93% occupancy on its trips, 11 points more. All despite the fact that the price of tickets has also increased, 10% compared to pre-pandemic levels.

Revenues climbed 124%, to 10,780 million euros. Sales of complementary services -boarding priority, luggage, sales on board…- had a solid performance, generating around 23 euros per passenger, up to 3,840 million. The figures evolve better than the operating costs, also with a strong boost of 75%, to 9,200 million, due to the rise in fuel.

The results are achieved with a “solid operational resilience despite multiple delays and strikes in air traffic control and understaffing in airport security and handling.” Ryanair operates 116% of its pre-covid capacity, which has allowed it to gain market share. It goes from 27% to 40% in Italy, from 26% to 36% in Poland or from 39% to 58% in Ireland. It also does so in Spain, without offering details.

For the summer, it is preparing the largest deployment in its history, with 3,000 daily flights and 2,500 routes.

The company plans to reach 185 million passengers this year, with an increase of 10%, and 300 million passengers by 2034, almost twice as many as now. The airline estimates that growth will lead it to hire 10,000 new pilots, crew members and engineers. In the fiscal year that has just closed, it has incorporated 3,000 crew members, including 1,000 pilots.

“We are cautiously optimistic that this fiscal year’s revenue will grow enough to cover a $1 billion rise in our fuel bill and still deliver a modest increase in profit,” the earnings statement read.

The group operates the Ryanair, Malta Air, Lauda and Buzz brands.