Ryanair Holdings plc has reported a full-year profit of €1.43 billion, attributed to strong traffic recovery, improving fares, a low-cost base, and favourable fuel hedges. The company experienced a Q4 loss of €154 million but achieved a significant improvement compared to the previous year’s loss.
Ryanair emphasised its commitment to environmental sustainability, aiming to become net carbon neutral by 2050 through various initiatives such as introducing fuel-efficient aircraft and partnering with sustainable aviation fuel suppliers.
The company also highlighted its social initiatives, including maintaining jobs during the COVID-19 crisis and creating new positions as it expands.
Ryanair expects European airlines to continue consolidating and anticipates constrained capacity growth due to aircraft delivery delays and high fuel prices.
Despite uncertainties, the company aims for modest year-on-year profit growth in the upcoming fiscal year.
This post was published on 24 May 2023 18:21
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