Ryanair confirms record profit 

BTN News
Wednesday, 22 May 2024

After average airfares in the UK rose a claimed 30 per cent in the past year, Ireland's Ryanair has reported its best-ever after-tax profit, up 34 per cent at EUR1.9 billion, with revenues 25 per cent more year on year at EUR13.44 billion euro.


The results were despite operating costs up 24 per cent year on year and a 32 per cent spike in its jet fuel bill.

Ryanair also announced a EUR700 million share buyback program that cfo Neil Sorahan said reflected a “very strong” balance sheet.

He said the company had focused on restoring employees' post Covid pay, bringing in pay increases and paying down debt, adding: "We’ve been paying down bonds and now have EUR1.4 billion in gross cash (as of the end of last year), and that’s why the board (has the confidence) on top of the ordinary dividend program, "to return EUR700 million to shareholders.”

Ryanair confirms record profit 

BTN News
Wednesday, 22 May 2024

After average airfares in the UK rose a claimed 30 per cent in the past year, Ireland's Ryanair has reported its best-ever after-tax profit, up 34 per cent at EUR1.9 billion, with revenues 25 per cent more year on year at EUR13.44 billion euro.


The results were despite operating costs up 24 per cent year on year and a 32 per cent spike in its jet fuel bill.

Ryanair also announced a EUR700 million share buyback program that cfo Neil Sorahan said reflected a “very strong” balance sheet.

He said the company had focused on restoring employees' post Covid pay, bringing in pay increases and paying down debt, adding: "We’ve been paying down bonds and now have EUR1.4 billion in gross cash (as of the end of last year), and that’s why the board (has the confidence) on top of the ordinary dividend program, "to return EUR700 million to shareholders.”