Monday, May 20, 2024 Ryanair ‘s profit surges 34% to €1.92B, fueled by a 9% increase in passenger traffic and effective cost management. Ryanair Holdings plc announced today (May 20) a remarkable 34% increase in full-year profit after tax (PAT), reaching €1.
92 billion. This growth was driven by a 9% rise in passenger traffic, totaling 184 million, which is 23% higher than pre-Covid levels. The Group’s strong cost management and higher revenues effectively counterbalanced the impact of a substantial rise in fuel costs, with hedged oil prices increasing from $65 per barrel in FY23 to $89 per barrel in FY24.
*Previous year’s figures marked with an asterisk. FY24 Key Points: Our traffic saw a substantial 9% increase, reaching 183.7 million, despite setbacks caused by Boeing delays.
Revenue per passenger rose by an impressive 15%, with average fares up by 21% and ancillary revenue up by 3%. We faced a significant 32% increase in our fuel bill, amounting to an additional €1.25 billion, totaling €5.
14 billion. Our commitment to environmental, social, and governance (ESG) principles was recognized with upgraded ratings from MSCI to ‘A’ and from CDP to ‘A-‘. Additionally, we achieved a robust 85% customer satisfaction score.
Due to Boeing’s delays, our fleet of 584 aircraft included 146 “Gamechanger” B737s by March 2024. We expanded our operations significantly with the opening of five new bases and the launch of over 200 new routes for the summer of ’24..
