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HomeBusinessAverage Ryanair tickets rise 24% as firm predicts record earnings

Average Ryanair tickets rise 24% as firm predicts record earnings

Ryanair will pay €400 million (£346.6 million) in shareholder dividends, a first for the company.

As the airline transported a record number of passengers throughout the summer, fares have increased.

Exceptional Half-Year Performance

The average fare increased by 24% year-over-year to €58 (£50.27), Ryanair disclosed in its financial results for the initial six months of the fiscal year 2023/24.

The CEO of the low-cost airline, Michael O’Leary, predicted earlier this year that fare increases of 10% to 15% were more probable than a 20% increase.

In the six months preceding September, Ryanair generated cumulative revenue of €8.58 billion (£7.43 billion).

Simultaneously, passenger volume surpassed 105 million for the entire half-year as a result of unprecedented summer demand and a “strong” Easter.

Ryanair, the largest airline in Europe in terms of passenger volume, sets a target of increasing annual passenger traffic to 300 million within the following decade.

Prior to that, the most recent financial projections from the company indicate that it will achieve unprecedented profits by the conclusion of the current fiscal year in March.

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Ryanair projected between €1.85bn (£1.6bn) and €2.05bn (£1.77bn) in after-tax profit on Monday, significantly surpassing the previous high of €1.45bn (£1.25bn) set in 2018.

Profits after taxes for the six months leading up to September are €2.18 billion (£1.88 billion), a 59% increase compared to the same period last year.

As a consequence, Ryanair is distributing dividends to its shareholders for the very first time. Investors are anticipated to receive €0.35 (£0.30) per share, in addition to a €400 million (£346.6m) payout that will be distributed in February and September of the following year.

Concerns over Aircraft Deliveries

Despite the Irish-based airline’s precarious financial health, they expressed apprehension about dispatching critical aircraft and the overall economic climate.

Ryanair had finalized an agreement with Boeing to purchase 300 new aircraft, which the airline claimed was an Irish company’s largest order in the United States.

However, the organization expressed apprehension that as many as ten of the fifty-seven deliveries scheduled for the summer of the following year might be postponed until the winter after.

The agreement reached with Boeing entailed an initial procurement of 150 737 MAX 10 aircraft, accompanied by an option to deliver an additional 150 aircraft from 2027 to 2033.

Ryanair’s assessment of the “risk of weaker consumer” spending in the coming months reflected the tighter economic climate characterized by elevated interest rates and inflation.

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