Ryanair has trimmed its passenger growth target for the year ending March 2026 from 215 million to 210 million due to Boeing delivery delays. Despite a reported after-tax profit of 1.79 billion euros, average fares dropped by 10% this year.
Ryanair, Europe’s largest low-cost airline, has adjusted its passenger growth target for the coming year from 215 million to 210 million due to delays in Boeing deliveries. The airline’s shares fell 3.1% to 17.47 euros after reporting an after-tax profit of 1.79 billion euros ($1.95 billion) for the six months ending in September, marking an 18% decline from last year and a 10% drop in average fares.
Group CEO Michael O'Leary noted that fares in the current third quarter are expected to be "modestly lower" than last year, with strong demand and forward bookings. CFO Neil Sorahan projected average fare reductions for the quarter to be under 5%. He attributed the decline in ticket prices to high interest rates and online travel agents stopping Ryanair flight sales due to legal pressures, although these issues are largely resolved.
Sorahan expressed hope that limited market capacity and lower interest rates would create a more favorable ticket pricing environment next year.
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Start your day informed with the AnewZ Morning Brief. Here are the top stories for 1 June, covering the latest developments you need to know....
U.S. rapper Kanye West, now known as Ye, performed to a crowd of 118,000 people in Istanbul on Saturday night, marking his first concert in Europe in more than a decade, despite being barred from performing in several countries over past antisemitic remarks.
Iranian-made Yassin missiles were spotted mounted on Armenian Air Force fighter aircraft during Armenia's latest military parade on Thursday (28 May), drawing attention from defence observers and regional analysts.
The Philippines remains under a "severe threat" from China despite recent efforts by Washington and Beijing to ease tensions, Philippine Defence Secretary Gilberto Teodoro said on Saturday (30 May).
Thai rescuers say five people have been pulled alive from a flooded cave in remote Laos, where seven villagers became trapped after heavy rain cut off access underground.
Russia has recalled its ambassador to Armenia for consultations, citing Yerevan's growing rapprochement with the European Union. The move is seen as the latest sign of deteriorating relations between the longtime allies ahead of Armenia's parliamentary election on 7 June.
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