Ryanair’s profits increase as passengers opt for cheaper fares

posted on 5th January 2023 by Eddie Saunders
Ryanair’s profits increase as passengers opt for cheaper fares

Ryanair has increased its full year profit forecast for 2023 to a range of €1.32bn ($1.59bn) to €1.42bn ($1.71bn).

This represents a 25% increase from the airline’s initial forecast of €1bn to €1.20bn.

The revision comes after Ryanair saw better than expected results in the third quarter, carrying 11.5 million passengers in December, a 21% increase from the previous year.

November also saw an increase in the number of travelers, with a load factor of 92% compared to 2019 levels.

These improvements prompted analysts at Liberum to revise their forecast for the airline.

“We increase our target price to €16 from €13 and upgrade our recommendation to Buy from Hold,” Liberum said.