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Ryanair reduces its losses to 355 million in its last fiscal year | Economy

Ryanair recorded a net loss of 355 million euros in its fiscal year of 2022 -it runs from April 1, 2021 to March 31-, compared to Red numbers of 1,015 million euros that was scored a year earlier, as reported by the airline on Monday. The airline’s turnover reached 4,800 million euros in the year, which represents a growth of 193% compared to the 1,640 million euros of the previous year.

Operating costs doubled to €5.27 billion. The firm carried out a reduction in variable costs, such as airport and handling costs, route taxes and there was also a lower fuel consumption when 61 B737 Gamechangers aircraft entered the fleet.

For its part, traffic recovered strongly, going from 27.5 million to 97.1 million passengers, while the load factor grew 11 percentage points, reaching 82%. The delay in the relaxation of travel restrictions in the European Union due to covid until July 2021, combined with the impact of the Omicron variant and the Russian invasion of Ukraine in the second half, meant that rates required a “significant” stimulation. ” Of the prices.

The CEO of Ryanair, Michael O’Leary, expects that in the next five years its traffic will grow by 50%, reaching 225 million passengers a year. “This growth will occur with lower fares, but with a fleet of new B737 Gamechanger aircraft, which offer 4% more seats, but consume 16% less fuel and reduce noise emissions by 40%”, has outstanding.

In addition, the net debt at the end of the fiscal year was reduced by 36.4%, reaching 1,450 million euros, while the previous year was 2,280 million euros, and more than 90% of the fleet of B737 aircraft of the group is free of charges. Ryanair plans to reduce this net debt to zero in the next two years. “Ryanair’s balance sheet strength ensures that the Group is well prepared to quickly capitalize on the many growth opportunities that exist in Europe in the post-Covid-19 recovery this year and beyond,” the airline added in its statement.

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