Ryanair soars with €88m profit despite Boeing 737 delays
An international airline today announced that its third quarter saw a multi-million euro profit following a loss in the same period last year.
Ryanair, which reported a €66m loss for Q3 last year, announced today that it had turned that around by more than €100m, totalling an €88m profit.
Revenue for the company was up 21 per cent, going from €1.58bn to €1.91bn.
It also said that although it had had planned to reach the 200 million passengers mark in the year to March 2024, but now expects that to take at least until 2025 or 2026.
The extension in reaching that goal, it said, is due to the delays it has had procuring new Boeing 737 MAX planes, which was grounded following two fatal incidents.
“As a direct result of these delivery delays, we plan to extend our 200 million per annum passenger target by at least one or two years to FY25 or FY26,” it said.
In the update, the company also commented on its future, saying: “Ancillary revenues continue to grow, but at a slower rate having annualised the cabin bag changes in November.
“This will support full-year revenue per guest growth of between 3 per cent to 4 per cent.
“On the basis of current trading, Ryanair expects to finish close to the mid-point of the new PAT guidance range. This guidance is heavily dependent on close-in Q4 fares and the absence of any security events.”
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