Irish airline Ryanair has announced record profits for the past year, with earnings rising 34% to 1.92 billion euros. The company attributed this success to a 9% increase in passenger numbers, reaching 183.7 million in the 2024 financial year. Ryanair, led by CEO Michael O’Leary, remains Europe’s largest airline by passenger count.
The airline has been expanding its operations, opening five new bases and introducing over 200 new routes during the summer season. However, Ryanair also faced a 32% increase in fuel costs, which has impacted their profit margins.
Despite the impressive financial performance, Ryanair has a cautious outlook for the coming summer. The company does not anticipate a significant profit increase, partly due to the delayed delivery of 23 Boeing planes, now expected in July.
Ryanair’s growth and profitability highlight its strong market position, yet the airline remains mindful of rising operational costs and logistical challenges that could affect future earnings.