Bookings for the summer are booming, Ryanair announced in Dublin on Monday. However, growth is being threatened by the Covid-19 pandemic and Russia’s invasion of Ukraine. Given the continued risk of negative news on these issues, it’s almost impossible to give an accurate earnings forecast.
Ryanair’s net loss, adjusted for special effects, for the 2021/22 financial year, which ended at the end of March, shrank from a good one billion euros in the previous year to 355 million euros. Sales almost tripled to 4.8 billion euros.
Ryanair expects a strong summer as travel restrictions are lifted encouraging people to fly again. Prices are likely to be slightly above 2019 levels during the peak season, although price cuts have started to boost the market this quarter.
The Irish airline confirmed its goal of carrying 165 million passengers in the new financial year. CEO Michael O’Leary said at the end of March that a profit of at least one billion euros would be sought.