Ryanair has announced a sharp rise in profits after increasing airfares and benefiting from earlier aircraft deliveries, which enabled the airline to carry more passengers.
The low-cost carrier reported a pre-tax profit of €2.9 billion for the first half of its financial year — a 40% increase compared to the same period last year, reports Breaking News.
During the six-month period, Ryanair flew 119 million passengers, up 3% year on year, thanks to improved Boeing aircraft deliveries that boosted its capacity.
The airline had faced disruption due to slower aircraft production following strikes among Boeing workers in late 2024, reports Breaking News.
However, Ryanair said the new deliveries would help it add more seats during peak travel times, including the October school holidays and the busy Christmas and New Year period.
Average airfares rose 13% year on year to €58, with prices spiking particularly during Easter, reports Breaking News.
Chief executive Michael O’Leary said the airline had managed a “recovery” of the 7% drop in airfares experienced during the previous year’s second quarter — the peak summer travel season between July and September.
He also hit out at what he described as “stupid rules” proposed by the EU, including plans to further increase free carry-on luggage limits, reports Breaking News.
Mr O’Leary warned that such measures would “only lead to more airport security and flight delays as well as higher costs, and higher fares for Europe’s consumers”.
Ryanair now expects to carry 207 million passengers across the full year — 3% more than last year and higher than previously forecast — supported by early Boeing deliveries and strong first-half demand, reports Breaking News.
The company said airfares are unlikely to rise as sharply in the second half of the year due to significant increases recorded during the same period in 2024.
Mr O’Leary cautioned, however, that Ryanair’s financial performance “remains exposed to adverse external developments, including conflict escalation in Ukraine and the Middle East, macro-economic shocks and any further impact of repeated European ATC (air traffic control) strikes and mismanagement,” reports Breaking News.
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