Ryanair is hopeful of returning to "reasonable profitability" over the next year after cutting its 2021/22 full-year losses by two-thirds, despite the impact of Covid, the Omicron variant and war in Ukraine.
The budget carrier on Monday (16 May) revealed a full-year net loss of €355 million for the year to 31 March 2022, down from in excess of €1 billion a year earlier, while passenger traffic recovered from 27.5 million to 97.1 million – albeit still 35% behind pre-Covid levels. Load factor was 82%, up from 71% in the year to 31 March 2021.
Boss Michael O’Leary, though, said Ryanair planned to grow passenger numbers in its 2022/23 full-year to 165 million, while the group is targeting 225 million annual passengers by full-year 2025/26.
Total revenue increased from €1.64 billion to €4.80 billion (+193%) as passenger numbers recovered, with operating costs increasing from €2.48 billion to €5.27 billion (+113%) in parallel.
Average fares have fallen by more than a quarter (27%) to €27, which Ryanair also attributed to Covid, Omicron and Ukraine, although ancillary revenue has increased to more than €22 per passenger with more people opting for priority boarding and reserved seats.
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