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.
The airline’s chief executive and director Michael O’Leary said: "The recovery for the remainder of FY23 remains fragile and could yet be impacted by new Covid variants or adverse geopolitical events such as Ukraine.
"However forward bookings [both traffic and fares] remain strong over the October school mid-terms and into the peak Christmas travel period.
"We hope to avoid any repeat of last year’s Omicron lockdowns which damaged last Christmas at such short notice."
According to O’Leary, concerns about the impact of recession and rising consumer price inflation on Ryanair’s business model have been "greatly exaggerated" in recent months.
"As the lowest cost producer in Europe, we expect to grow strongly in a recession as consumers won’t stop flying, but rather they will become more price sensitive."
