Earnings

Ryanair reports bumper profit on ‘favorable’ fuel hedges, sees major industry consolidation

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BONN, Germany – Jan. 30, 2023: A Ryanair plane parks at Bonn airport in Cologne, Germany. Ryanair reported a bumper full-year profit for 2022/23 on the back of resurgent traffic and favorable oil hedges.

Ting Yang | Nurphoto | Getty Images

Ryanair on Monday posted a full-year net profit of 1.43 billion euros ($1.55 billion), aided by resurgent traffic and fares, along with favorable oil hedging positions.

Despite a rough first quarter in 2022 as a result of Russia’s invasion of Ukraine, travel demand rebounded over the course of the year. The Irish low-cost carrier reported a 74% increase in full-year traffic to 168.6 million customers, while fares were up 10% on pre-Covid levels.

Operating…



Source cnbc.com

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