May 21, 2024, 7:24 AM
May 20, 2024, 12:00 AM

Ryanair reports record profits and announces lower summer ticket prices

Highlights
  • Ryanair reported a record annual profit of 1.9 billion euros, a 34% increase from the previous year.
  • The budget airline also announced that summer ticket prices will be lower than expected.
  • Passenger numbers have soared above pre-Covid levels, leading to the airline's success.
Story

Ryanair made a lot of money last year, €1.9bn to be exact. They also got more passengers, 184 million in total. This is 23% more than before the pandemic. They think they might get 200 million passengers this year. But, they have to lower their prices to get more customers. That's why they are offering cheaper fares this summer. Amber Rudd, a former UK home secretary, is joining Ryanair's board. She used to work in the government but left in 2018 because of a scandal. Now she will be a non-executive director at Ryanair. The airline is growing a lot, becoming the second-largest in the world. But, it's also causing a lot of pollution. They say buying new planes will help reduce emissions. Ryanair's profits went up by 21% last year. They flew almost 184 million passengers. Each passenger paid more than before, around £11 extra. They plan to increase passengers by 8% this year, aiming for 200 million. But, they might not reach this goal due to delays in getting new planes from Boeing. The CEO of Ryanair says they might have to lower prices next year to fill up their planes. They are adding new routes this summer and are hopeful that prices will stay the same or go up a bit. The airline is facing challenges with Boeing's delays in delivering new planes. Despite this, they are still making a lot of money and growing their business.

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