Latest news with #RyanairGroup
Yahoo
21-07-2025
- Business
- Yahoo
Ryanair profits more than double on Easter timing and fare hikes
Budget airline Ryanair has revealed that quarterly profits more than doubled thanks to strong Easter demand and as fares surged by more than 20%. The Irish carrier reported profits after tax of 820 million euros (£710.3 million) for the three months to the end of June, up from 360 million euros (£311.8 million) a year earlier. Revenues jumped by 20% to 4.34 billion euros (£3.76 billion), boosted by the timing of Easter but also as Ryanair saw fares rise – in particular better-than-expected fares for last-minute bookings. The average fare rose 21% year-on-year to 51 euros (£44.18) in the quarter, it said. The group is seeing fares rebound after it cut them by 7% in its previous financial year as under-pressure consumers reined in spending. But it said passenger growth was still being held back by delays to new aircraft deliveries, up 4% to 55.5 million in its first quarter despite the Easter boost. It expects a rise of 'just 3%' to 206 million passengers over the full year in spite of strong summer travel demand. The group has repeatedly slashed its annual passenger forecast, with the last revision in January, blaming aircraft delivery delays from Boeing. Fares will also not rise by as much in the second quarter, it added. Ryanair chief executive Michael O'Leary said: 'We do, however, cautiously expect to recover almost all of last year's 7% full-year fare decline, which should lead to reasonable net profit growth in full year 2025-26. 'The final 2025-26 outcome remains heavily exposed to adverse external developments, including the risk of tariff wars, macro-economic shocks, conflict escalation in the Middle East and Ukraine and European air traffic control strikes, mismanagement and short staffing.'
The Independent
21-07-2025
- Business
- The Independent
Ryanair profits more than double on Easter timing and fare hikes
Budget airline Ryanair has revealed that quarterly profits more than doubled thanks to strong Easter demand and as fares surged by more than 20%. The Irish carrier reported profits after tax of 820 million euros (£710.3 million) for the three months to the end of June, up from 360 million euros (£311.8 million) a year earlier. Revenues jumped by 20% to 4.34 billion euros (£3.76 billion), boosted by the timing of Easter but also as Ryanair saw fares rise – in particular better-than-expected fares for last-minute bookings. The average fare rose 21% year-on-year to 51 euros (£44.18) in the quarter, it said. The group is seeing fares rebound after it cut them by 7% in its previous financial year as under-pressure consumers reined in spending. But it said passenger growth was still being held back by delays to new aircraft deliveries, up 4% to 55.5 million in its first quarter despite the Easter boost. It expects a rise of 'just 3%' to 206 million passengers over the full year in spite of strong summer travel demand. The group has repeatedly slashed its annual passenger forecast, with the last revision in January, blaming aircraft delivery delays from Boeing. Fares will also not rise by as much in the second quarter, it added. Ryanair chief executive Michael O'Leary said: 'We do, however, cautiously expect to recover almost all of last year's 7% full-year fare decline, which should lead to reasonable net profit growth in full year 2025-26. 'The final 2025-26 outcome remains heavily exposed to adverse external developments, including the risk of tariff wars, macro-economic shocks, conflict escalation in the Middle East and Ukraine and European air traffic control strikes, mismanagement and short staffing.'
BreakingNews.ie
12-06-2025
- Business
- BreakingNews.ie
Ryanair CEO Michael O'Leary receives pay-package of €3.83m for 2025
Ryanair chief executive, Michael O'Leary, this year received a pay-package of €3.83 million that included bonus payments of €600,000. That is according to the 2025 annual report by Ryanair, which shows that Mr O'Leary received the maximum bonus possible of €600,000, or 50 per cent of basic pay under his contract, as Ryanair recorded pre-tax profits of €1.78 billion on the back of revenues climbing to €13.94 billion. Advertisement The airline achieved the revenues as passenger numbers increased by nine per cent to a record 200 million for the first time. Mr O'Leary's pay package was made up of basic pay of €1.2 million, a bonus payment of €600,000 and share options of €2.03 million. A note attached to the accounts states that the €2.03 million component is through the company recording a technical non-cash accounting charge in relation to share options granted to Mr O'Leary. The note states that no such payment was made to Mr O'Leary and the share options remain unvested. Advertisement At the end of May, Mr O'Leary qualified for share options worth more than €100 million and the 64 year old will have to stay at Ryanair until the end of July 2028 to collect the share options. The annual report shows that Ryanair's Irish based revenues last year totalled €757.5 million which were down four per cent on the Irish revenues of €791 million. The airline's Irish business accounted for 5.4 per cent of overall revenues as Italy was the airline's most lucrative market at €2.96 billion, followed by Spain at €2.47 billion and UK revenues of €2.04 billion. In his message to shareholders, Mr O'Leary said that 'our home market in Dublin is also being hampered by failed regulation and political inaction'. Advertisement He said that at Dublin airport over €320 million has been invested in a new 2nd runway, which doubles the capacity of Ireland's main airport from 32 million to over 60 million passengers per annum. He said that "Dublin's airlines are prevented from using this growth capacity, because an 18-year-old planning restriction artificially caps Dublin Airport traffic at 32 million p.a, over fears (in 2007), that road access around Dublin Airport would be 'overwhelmed' at this volume of passengers". He said that Ireland's newly elected Government committed to removing this outdated traffic cap, yet three months later no action has been taken. He said: 'Only in Ireland would we allow this vital access infrastructure to be built, but then refuse our airlines and citizens the ability to use it, due to bureaucratic failure to abolish an absurd and outdated planning restriction. This is a clear example of the sort of regulatory failure, which the Draghi Report has encouraged Europe to reform and remove.' Advertisement The annual report also makes reference to the Data Protection Commission (DPC) here launching an inquiry into Ryanair's booking verification process last October. The report states that Ryanair has engaged with the DPC "explaining that its verification requirement is designed to ensure compliance with safety and security protocols, and that the process of verification fully complies with the requirements of the GDPR". The report states that the inquiry is expected to take at least one year "and while Ryanair is confident in its position, the DPC may ultimately find that the verification process has not fully complied with the GDPR, which could lead to the imposition of a substantial fine". In his message to shareholders, Mr O'Leary says that 'the biggest medium term challenge we face, remains the risk to Boeing deliveries'. Advertisement He said: 'While the final units of our 210 Boeing 737-8200 order were contracted to deliver in December 2024, at our March 2025 year end Boeing left us short 34 of these deliveries. He said: 'We got five more in April but the remaining 29 are not expected to deliver until the second half of FY26, hopefully in time for summer 2026. Ireland Martin says defamation reforms will happen 'quickl... Read More "The quality and timeliness of Boeing deliveries has recently improved under their new management, but this needs to be reflected in rising monthly production if Boeing is to erase its current delivery backlog.' Mr O'Leary states that over the next decade Ryanair hope to buy 300 more Boeing MAX-10 aircraft, to grow to 300m guests per annum and to create approximately 10,000 new jobs. The aggregate amount of compensation paid by Ryanair to its key management personnel was €14.7 million including a €4.2 million non-cash technical accounting charge in relation to unvested share options. In the 12 months to the end of March, the airline employed an average of 27,076 as staff costs totalled €1.75 billion.
