Ryanair Q1 Profit Down On Higher Costs, Weak Fares; Sees Traffic Growth In FY25

(RTTNews) - Airline Ryanair Holdings plc (RYA.L, RYAAY) reported Monday that its first-quarter profit after tax fell 46 percent to 360 million euros from last year's 663 million euros.

Operating costs grew 11 percent from the prior year to 3.26 billion euros.

Revenue edged down 1 percent to 3.63 billion euros from last year's 3.65 billion euros.

Traffic grew 10 percent to 55.5 million customers from prior year's 50.4 million customers, despite multiple Boeing delivery delays. Meanwhile, average fares were down 15 percent to 41.93 euros.

Load Factor dropped 1 percentage point to 94 percent from 95 percent a year ago.

Looking ahead, the company expects fiscal 2025 traffic to grow 8 percent from the previous year to 198 million to 200 million passengers, subject to no worsening Boeing delivery delays.

The company said, "While Q2 demand is strong, pricing remains softer than we expected, and we now expect Q2 fares to be materially lower than last summer," compared to previous view of flat to modestly up fares.

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