Low-cost airline Ryanair reports increased revenue and reduced losses in the third quarter of the fiscal year compared to the previous year.
Sales rose to EUR 1,469.9 million (341.2).
The operating profit was EUR -116.7 million (-332.4).
The result after tax was -95.8 million euros (-320.8), which is better than the expected -101 million pounds according to the consensus that the company collected. The last time Ryanair made a profit in Q3 was 2019 when the final result was 88 million pounds.
The company flew 31.3 million passengers during the period (8.1), with a cabin load factor of 84 percent (70).
The outlook is forward-looking. around the fourth quarter remains very uncertain and the company may be forced to lower prices, according to CEO Michael O'Leary.
”While bookings have improved recently following the easing of travel restrictions, the booking curve is still very late and close, meaning significant price stimulus will be needed at lower prices in the fourth quarter,” O'Leary said.
Source: FinWire
