Ryanair has reported a Q1 profit of €170m, compared to a prior year Q1 loss of €273m, but significantly below the €243m reported in Q1 FY20 pre-Covid.
Highlights include:
- Q1 traffic recovered strongly to 45.5m from 8.1m (+9% ahead of pre-Covid).
- Easter bookings & fares badly damaged by the Russian invasion of Ukraine in Feb.
- Sustainalytics ranked Ryanair the No.1 EU airline & No.2 World airline for ESG.
- 73 B737-8200 “Gamechangers” delivered ahead of peak S.22.
- S.22 capacity on sale at 115% of S.19 (pre-Covid) levels.
- FY24 fuel hedging increased to 30% (FY23: 80%).
- Net debt reduced to €0.4bn at 30 Jun. (31 Mar.: €1.45bn).
- Majority of A320 leases now extended by up to 4 years to 2028.
