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Ryanair upgrades profit outlook by €200m after 'stronger then expected' festive season

Air
James Chapple
5 January 2023

Ryanair has upgraded its profit outlook after a "stronger than expected" festive season, the first for three years largely unaffected by Covid travel restrictions.

Unsplash Engine Aircraft Ryanair lucas-davies-jpHDJGqLJrY-unsplash.jpg

(Credit: Lucas Davies / Unsplash)

The budget carrier said strong pent-up travel demand over Christmas and new year, "with no adverse impact from Covid or war in Ukraine", drove up holiday season traffic and fares.

It now expects to record a third-quarter (three months to 31 December 2022) profit – after tax – of around €200 million.

Ryanair does, though, anticipate its winter fourth-quarter (three months to 31 March 2023) to be loss-making owing to a "recent softening" in UK and Irish traffic and pricing, and with Easter falling in April.

Nonetheless, Ryanair expects its 2022/23 full-year (year to 31 March 2023) passenger guidance of 168 million to materialise as forecast.