Ryanair has a record profit of 33 billion

The company expects profits to return to pre-Covid-19 levels this year, in economic results on Monday he estimated it at at least one billion euros.

Analysts had expected pre-tax profit to rise to € 1.39 billion in the half year. However, the result significantly exceeded the previous record of the first half, which in the half year ended at the end of September 2017 amounted to 1.29 billion euros.

The recovery in traffic and profitability is likely to continue very significantly for at least the next three years, said airline chief Michael O’Leary. According to him, this trend will allow Ryanair, which is already the largest in Europe by number of passengers, to significantly increase its market share.

Irish airlines expect a losing winter. For the financial year 2023, which ends in March, an after-tax profit of between one and 1.2 billion euros is expected. According to the company, this estimate depends on the non-occurrence of adverse effects.

“Concerns about the impact of the recession and rising consumer price inflation on Ryanair’s business model have been greatly exaggerated in recent months,” O’Leary said. “We expect these strong underlying factors to continue to support strong growth in traffic and average rates for at least the next 18 months,” she added. He expects very strong growth in profits and traffic over the next three years, assuming oil prices remain relatively stable.

As for the second quarter results, O’Leary noted that in his professional career he had not yet seen a current growth of 15 percent in traffic and 14 percent in ticket prices.

Ryanair carried a record 95 million passengers in the six months to the end of September. The company raised its passenger count for the full financial year to 168 million from the previously forecast 166.5 million. The previous annual record before the pandemic was 149 million passengers. CFO Neil Sorahan said the number of passengers could rise to 185 million next year.

Other competitors have also posted a relatively optimistic outlook in recent weeks. Wizz Air, IAG, which owns British Airways, and Lufthansa said they are still experiencing strong ticket sales despite inflation concerns.