Ryanair has reported a first half (H1) fiscal 2023 net profit of €1.37 billion or €1.11 per share, compared to a pre-pandemic H1 FY20 net profit of €1.15 billion, and a H1 FY22 net loss of €48 million or (€0.04) per share.
On Monday (November 7, 2022), Ryanair reported their first half (H1) fiscal year 2023 (FY23) financial results for the period ending September 30, 2022. The carrier reported a H1 FY23 net profit of €1.37 billion or €1.11 per share on a year-over-year increase in revenue of 207 percent to €6.62 billion. Ryanair’s H1 FY23 net profit exceeds the pre-pandemic H1 FY20 net profit of €1.15 billion. During the same period last year H1 FY22, the carrier reported a net loss of €48 million or (€0.04) per share. At September 30, 2022, Ryanair cut their net debt to €500 million, down from €1.45 billion at March 30, 2022.
In Monday’s announcement, Ryanair’s Michael O’Leary, said in part,
“We continue to invest heavily in fuel efficient, environmentally friendly new aircraft technology. Passengers who switch to Ryanair (from high-fare EU legacy airlines) can reduce their emissions by up to 50% per flight, proving that with Ryanair tourism growth can be delivered in a more sustainable manner. During S.22 we operated 73 new B737 “Gamechanger” aircraft, which deliver 4% more seats per flight yet burn 16% less fuel and cut noise emissions by up to 40%.
“We continue to invest to accelerate the production of sustainable aviation fuel (SAF). Our partnership with Trinity College’s Sustainable Aviation Research Centre is now in its second year and its activity has ramped up significantly.
“Building on the recent success of our partnership with Neste to power up to one third of our Schiphol flights (AMS) with a 40% SAF blend, we signed a long-term deal with OMV in Sep. to purchase up to 160,000 tonnes of SAF at Ryanair airports across Austria, Germany and CEE. Ryanair hopes to power 12.5% of flights using SAF and cut our CO₂ per pax/km by 10% to 60 grams by 2030. As part of our carbon strategy, the Group recently concluded an agreement to retro-fit scimitar winglets on our 409 B737-800NG fleet (an investment valued at over $200m). This retro-fit program commences in W.22 and will further reduce fuel burn by 1.5%. Through A4E, and the EU, we are campaigning to accelerate reform of European ATC to eliminate needless flight delays, which will substantially reduce fuel consumption and CO₂ emissions…”
During the first half of fiscal 2022, Ryanair opened 15 new bases and launched 770 new routes. The carrier also took delivery of 73 B737-8200 MAX ‘Gamechanger’ aircraft, with 51 more expected to be delivered for the summer 2023 season. Ryanair also recently took delivery of the first of eight new CAE full flight simulators, valued at over $80 million. Additionally, the company plans on expanding their state-of-the-art training facilities over the next three years, and is currently in the process of selecting locations for two new training centres in CEE and the Iberian Peninsula, representing a €100 million investment.
Ryanair Holdings, plc is Europe’s largest airline conglomerate and the parent company of Buzz, Lauda, Malta Air, and Ryanair DAC. The airline carries over 150 million passengers annually with more than 2,500 daily departures. Ryanair serves over 200 destinations in 40 countries with a fleet of 505 aircraft including 409 Boeing 737NGs, 67 Boeing 737-8200s and 29 Airbus A320s with Lauda. Currently, the low-cost carrier has nearly 150 Boeing 737-8200s on order, and will grow their fleet to 600+ aircraft by 2026. Ryanair has maintained a stellar safety record for nearly 40 years and prides itself on being “Europe’s greenest cleanest airline group,” promising customers a reduction in CO2 emissions of up to 50%, versus the “Big 4 EU major airlines.” The company continues to grow across Europe and plans on carrying 225 million passengers annually by 2026.
Source: Ryanair