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Ryanair's forward bookings ‘remain strong’ despite ‘adverse geopolitical events’

Air
Will Payne
7 November 2022

Ryanair has reported strong forward bookings heading into the Christmas period, but warned the airline’s recovery for the remainder of the 2023 financial year (FY23) "remains fragile" and could be impacted by new Covid-19 variants or "adverse geopolitical events".

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It comes after the carrier reported a half-year after tax profit of €1.37bn, compared to a pre-Covid H1 profit of €1.15bn due to record Q2 traffic, "strong operational reliability and robust summer fares" which in Q2 were 14% up on pre-Covid pricing.

Revenues in the first half of the year increased by almost 250% to €4.42bn as traffic recovered from 39.1m to 95.1m (at a 94% load factor).

 
Operating costs rose by 126% to €4.98bn, driven by lower variable costs, higher load factors and improved fuel burn from the airline’s fleet.