Europe's biggest airline profits nearly 10 times higher as airfare rise defies expectations
Revenues at England's largest airline are nearly ten times greater than at the same time twelve months ago, with more travellers buying more expensive plane tickets.
The company's earnings after tax surged to £125.36 million for the three months between October and December, a significant increase from £12.62 million during the same period the previous year.
Personal Finance Blog: Dentist Reveals How Earning a Six-Figure Salary of £150,000 is Within Reach
It's partly because of pricier tickets that customers are booking at the last minute, the low-cost airline stated, even though it had predicted that fares would decrease.
He estimated that fares would decline a further 5% as we go into winter time.
In the first three months of Ryanair's financial year, they experienced a decline of 7%, while they actually saw an increase of 7% in the next period.
Contrary to industry expectations, the airline announced that ticket prices increased by 1% over the period leading up to Christmas on Monday morning.
The higher fares were due to "stronger close-in bookings for Christmas and the New Year".
Passenger numbers went up by 9% despite ticket price increases, reaching 45 million.
The airline has reduced its passenger projection once again, citing hold-ups in the delivery of planes from Boeing.
Ryanair says a shortfall in delivered planes is expected to result in four million fewer passengers for the airline in the 2026 fiscal year, still amounting to a 3% rise in traveller numbers.
It has downgraded its forecasts for the number of passengers it expects to carry from 210 million to 206 million, citing reduced hopes for deliveries of Boeing aircraft in time for the summer months.
early last year.
The budget airline is Europe's largest in terms of the number of aircraft and routes it operates.
Post a Comment for "Europe's biggest airline profits nearly 10 times higher as airfare rise defies expectations"