By Ilaria Grasso Macola
Ryanair has posted its largest third quarter profit after tax for as a boom in demand helped it soar past pre-Covid levels.
In the three months ending 31 December, the Dublin-based carrier reported a pre-tax profit of €211m (£184.9m), up from last year’s loss of €96m.
This was also up on the €88m profit reported in the third quarter of its 2020 financial year. Ryanair added that the average fare paid was 14 per cent higher during the same period.
Revenue surged 57 per cent to €2.31bn after passenger levels topped 38.4 million with a load factor of 93 per cent.
In a statement the airline said: “Ryanair secured strong market share gains in key EU markets as we operated 112 per cent of our pre-Covid capacity during the first nine months of FY23.”
“With Asian tourists now returning and a strong dollar encouraging Americans to explore Europe, we’re seeing robust demand for Easter and summer 2023 flights.”
Ryanair has maintained its revised guidance of a full-year profit of between €1.32bn and €1.42bn – up from an estimate of 1bn to €1.2bn.
The results come after rival Easyjet and Wizz Air posted their quarterly results, which showed that low-cost airlines appeared to be equipped to weather a macroeconomic environment plagued by recession fears and higher costs of living.
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