London Business News

Ryanair sales rise after post-pandemic holiday boom

Ryanair hit a adjacent-record €1.4bn (£1.2bn) profit last year and expects to better that in 2023, the low-cost airline said today.

Europe’s largest airline made a profit in the year to the cease of March after reporting a €355m loss in the previous year, thanks to a summer boom in travellers.

Chief executive, Michael O’Leary, said it was cautiously optimistic that it will increase profits again this year, which could result in it topping the record €1.45bn Ryanair made in 2018.

“To date, summer 2023 demand is robust and peak summer 2023 fares are trending ahead of last year,” O’Leary said, adding: “First-quarter fares, which benefited from a strong Easter in April – and a very weak previous year comparable due to Russia’s invasion of Ukraine – will be significantly higher than the first quarter of 2022-23.”