The low-cost airline Ryanair achieved a net profit of 2.19 billion euros in the first nine months of its fiscal year, which ended in December. A figure 39% higher than that registered in the same period of the previous year, as reported by the company.
However, the net profit for the third quarter of its fiscal year was more modest, of only 15 million, 93% less compared to the same quarter in 2022. A decrease that the company attributes to the increase in the cost of fuel.
Likewise, it has reported that its income grew by 26% during the first three quarters of its fiscal year, up to 11,270 million, although operating costs also advanced -specifically, by 25%, up to 8,880 million-.
Looking to complete its fiscal year, which ends at the end of March, the airline expects that its profits will be reduced to a range of between 1,850 and 1,950 million euros – previously they were between 1,850 and 2,050 million. A cut that he attributes largely to the fact that some travel agencies that he accused of adding illegitimate surcharges stopped selling their flights in December after lawsuits filed by Ryanair, which forced him to lower the price of his tickets.
“While traffic and fares were higher than the previous year, loads and returns around Christmas/New Year were softer than previously expected, as Ryanair lowered prices in response to the sudden (but welcome) removal of flights from pirate websites of online travel agencies at the beginning of December,” he explained in a statement. An impact, however, that assures that it has begun to “dissipate.”
He also explained that the outcome for the full year will largely depend on avoiding unforeseen adverse events in the fourth quarter, such as the war in Ukraine, the conflict between Israel and Hamas and further delays in Boeing deliveries.