Ryanair Reports Fiscal First Quarter Profit of €663 Million or €0.582 per Share
Ryanair has reported a fiscal first quarter profit of €663 million or €0.582 per share on a year-over-year increase in revenue of 40 percent to €3.65 billion. At June 30, 2023, the carrier had net cash totaling €0.98 billion.
On Monday (July 24, 2023), Ryanair Holdings reported their fiscal first quarter financial results for the period ending June 30, 2023. The Group reported a fiscal first quarter profit of €663 million or €0.582 per share on a year-over-year increase in revenue of 40 percent to €3.65 billion. At the close of the fiscal first quarter, Ryanair holdings has net cash totaling €980 million, up from €560 million at March 31, 2023.
At June 30, 2023, Ryanair’s fleet stood at 558 aircraft, including 119 Boeing 737-8200 MAX ‘Gamechangers’, increasing to 124 by mid-July 2023. By March 2024, Ryanair expects to take delivery of an additional 49 B737-8200s for a total of 173 of the efficient state-of-the-art airplanes. In May, Ryanair also signed an agreement with Boeing for the purchase of up to 300 Boeing 737-10 MAX airplanes, with 150 firm orders and 150 options. The 737-10 is the largest member of the MAX Family and offers 39 more seats compared to a 737NG, while delivering a 20 percent reduction in fuel burn and emissions, as well as a 50 percent smaller noise footprint.
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 over 550 aircraft including Boeing 737NGs, Boeing 737-8200 Gamechangers and Airbus A320s with Lauda. 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 300 million passengers annually by FY 2034.