The Irish low-cost airline Ryanair reports a turnover of 10.8 billion euros (4.8) in the broken financial year 2022/2023, which ended on the last day of March.

Expectations were 10.7 billion euros, according to analyst estimates collected in advance from S&P Global Market Intelligence.

Net profit came in at EUR 1.3 billion (-0.4), which was in line with expectations.

For the current year, fuel costs are forecast to increase by over EUR 1 billion. Despite this, optimism is expressed that sales growth will be able to compensate and enable a ”modest profit increase” compared to 2022/2023.

Traffic growth is expected to increase to around 185 million (168) in 2024, but delivery delays from aircraft manufacturer Boeing may postpone some of the traffic growth to later in the year, which generally yields weaker returns. This is hampering the forecast, according to the airline.

Source: Dagens Industri