Latest news with #Easterholidays
Daily Mail
3 days ago
- Business
- Daily Mail
Ryanair profits DOUBLE at start of holiday season as fares jump
Ryanair doubled its profits in the first quarter, thanks in part to the timing of the Easter holidays and higher air fares. Profits after tax rose 128 per cent to €820million (£710million) in the three months ending June, while flight prices rose 21 per cent. Michael O'Leary, chief executive, said fares had 'substantially benefitted from having a full Easter holiday in April, weak prior-year comps and marginally stronger than expected close-in pricing.' Revenue was 20 per cent higher at €4.34billion (£3.76billion) as passenger numbers increased 4 per cent from 55.5million in June 2024 to 57.9million in June 2025. The Irish airline said it continued to see strong demand and full-year traffic remains on track to grow 3 per cent to 206 million passengers. Defying gloom: Ryanair boosted profits in the first quarter despite industry headwinds In the second quarter, when European airlines make most of their profit, Ryanair says it expects to recover most of the 7 per cent fare decline seen last year. O'Leary said it was too early to provide full-year profit guidance as it would be heavily dependent on external factors, including the impact of tariffs, European air traffic control 'mismanagement', and conflict in the Middle East and Ukraine. Ryanair is Boeing's largest customer in Europe and is particularly exposed to the impact of tariffs on commercial aircraft. However, the airline said it was hopeful an exemption could be agreed between the EU and US. Mark Crouch, market analyst at eToro, says: 'Ryanair's latest numbers leave little doubt, this airline is built differently. 'Profits more than doubled in the three months to June, and all this while tariff uncertainty lingers and Boeing delays continue to hold back fleet growth. Most carriers would kill for these kinds of 'problems'. 'It's not just that Ryanair is outperforming a sector still facing turbulence, it's that it's doing so with a kind of swagger. 'Where others are weighed down by cost inflation, wavering passenger demand, and operational chaos, Ryanair is flying straight through it. Fewer planes? No problem. Higher fares? Passengers still pile in.' By contrast, EasyJet reported last week that industrial action by French air traffic control could weigh on profits this year. Kenton Jarvis told investors last week that French unions had presented 'unacceptable challenges for customers and crew' and created unexpected and significant costs for all airlines'. Ryanair came under fire over the weekend after an investigation by The Sunday Times claimed the airline pay bonuses to staff who catch travellers with oversized luggage. An employee claimed they were paid €1.50 (£1.30) per bag, with a €80 monthly limit.
Reuters
3 days ago
- Business
- Reuters
Ryanair's April-June net profit doubles, summer bookings 'robust'
DUBLIN, July 21 (Reuters) - Ryanair's (RYA.I), opens new tab net profit more than doubled in its April-June quarter, thanks in part to the timing of Easter holidays, and bookings for the rest of the summer are robust, Europe's largest low-cost carrier said on Monday. The Irish airline, Europe's largest by passenger numbers, said it was not seeing a trend of later-than-normal bookings reported by some rivals. "Across the piece, bookings are good," Chief Financial Officer Neil Sorahan said, adding that consumer confidence was very strong. The airline reported a net profit of 820 million euros ($953 million) for its first quarter, which ended on June 30, up from 360 million euros in the same period last year when Easter was in March. A Ryanair poll of analysts had expected 716 million euros. Average fares rose 21% from the same quarter last year, thanks to the timing of Easter and marginally stronger than expected close-in pricing, CEO Michael O'Leary said in a statement. In the July-September quarter, when European airlines make most of their profit, Ryanair expects to recover almost all of the 7% fare decline seen last year, when it was hit by weak consumer sentiment and a dispute with some online travel agents. Asked about recent commentary from British low-cost rivals EasyJet (EZJ.L), opens new tab and Jet2 (JET2.L), opens new tab that customers were booking later, Sorahan said: "We're not seeing those kind of trends at all." Rivals are likely seeing a negative impact from the resolution of Ryanair's dispute with online travel agents, he said. Ryanair's profit for the year depends heavily on the strength of close-in bookings in August and September, but O'Leary said the rebound in fares should lead to "reasonable net profit growth" for the year to March 31. As Boeing's (BA.N), opens new tab largest customer in Europe, Ryanair is particularly exposed to the possible imposition of tariffs on commercial aircraft, but said it was hopeful that an exemption for commercial aircraft could be agreed by the United States and European Union. "We're all hopeful and maybe a little confident that something might get done," CFO Sorahan said. ($1 = 0.8603 euros)
Times
3 days ago
- Business
- Times
Business live: Ryanair first-quarter profits more than double
Ryanair's net profit more than doubled in its April-June quarter, helped by the timing of Easter holidays and better-than-expected last-minute fares. Europe's largest low-cost carrier reported a net profit of €820 million for its first quarter, up from €360 million in the same period last year when Easter was in March. Analysts had expected profits of €716 million. Average fares rose 21 per cent from the same quarter last year, the company said. Michael O'Leary, chief executive, said: 'We . . . cautiously expect to recover almost all of last year's 7% full-year fare decline, which should lead to reasonable net profit growth in FY26.' Ryanair shares closed at €23.12 on Friday, down 7.5 per cent from a high of €24.98 on July 8. Japan's ruling coalition lost control of the upper house in an election on Sunday, further weakening prime minister Shigeru Ishiba's grip on power. Japan's prime minister, Shigeru Ishiba, is under intense pressure to resign after his ruling Liberal Democratic Party (LDP) lost control of the upper house of the Diet, in an election on Sunday that saw a dramatic surge by a far right anti-foreigner party. Markets in Japan were closed for a holiday on Monday, but the yen strengthened slightly against the dollar, while Nikkei futures rose slightly as the election results appeared to be already priced in. Japanese government bonds fell last week, sending yields on 30-year debt to an all-time high, while the yen slid to multi-month lows against the dollar and the euro. Ishiba pledged to remain party leader as the country tries to get a tariff deal with. President Trump before the August 1 deadline. The election saw a surge in support for a far right anti-foreigner party, Sanseito. It seeks to restrict the rights of foreigners under the slogan 'Japanese First' and second in the number of seats allocated by proportional representation, tying with the two main opposition parties. • Read in full: Japan's PM under pressure after losing upper house majority
Reuters
3 days ago
- Business
- Reuters
Ryanair's April-June net profit doubles on Easter timing, fare rebound
DUBLIN, July 21 (Reuters) - Ryanair's (RYA.I), opens new tab net profit more than doubled in its April-June quarter, thanks to the timing of Easter holidays and better-than-expected last-minute fares, Europe's largest low-cost carrier said on Monday. The Irish airline, Europe's largest by passenger numbers, reported a net profit of 820 million euros ($953 million) for the first quarter, up from 360 million euros in the same period last year when Easter was in March. A Ryanair poll of analysts had expected 716 million euros. "Q1 fares substantially benefited from having a full Easter holiday in April, weak prior-year comps and marginally stronger than expected close-in pricing," CEO Michael O'Leary said in a statement. Average fares rose 21% from the same quarter last year, the statement said. "We... cautiously expect to recover almost all of last year's 7% full-year fare decline, which should lead to reasonable net profit growth in FY26," which ends on March 31, O'Leary said. Ryanair shares closed at 23.12 euros on Friday, down 7.5% from the all-time high of 24.98 euros hit on July 8. ($1 = 0.8603 euros)
