After presenting the 2021/22 financial year, which ended at the end of March, Ryanair remains cautious. That said the head of the airline group, Michael O’Leary. There are strong bookings for the summer, but the recovery can quickly collapse again if there is negative news.
This has already been seen with the omicron variant of the corona virus and the Russian invasion of Ukraine. The company still does not dare to make any forecasts for the current year.
For the 2021/22 financial year, Ryanair’s net loss adjusted for special effects shrank from a good one billion euros in the previous year to 355 million euros. With 97.1 million passengers, sales tripled by almost 4.8 billion euros.
The lifting of travel restrictions is encouraging people to fly again, so Ryanair expects a strong summer. Although price cuts have been used to boost the market this quarter, peak season prices are likely to be slightly above 2019 levels. In the new financial year, the Irish airline intends to transport a total of 165 million passengers. The company had 149 million passengers in the pre-crisis year of 2019. At the end of March, CEO O’Leary said that it would aim for a profit of at least one billion euros.
On Monday, the Ryanair boss sharply criticized the main supplier Boeing in an interview with the television channel CNBC. “Boeing needs a fresh start in management,” O’Leary said. One is very disappointed with the late deliveries over the past twelve months and has also heard nothing more from the Americans about the long version Boeing 737-Max-10. Corresponding negotiations were broken off in September last year. The aircraft type has not yet been approved for air traffic.
Various versions of the Boeing 737 are the standard jet for the Irish, which according to Boeing are the largest customer in Europe. For the summer, only 29 of the 505 jets in the subsidiary Lauda come from the competitor Airbus. Ryanair has ordered 210 of the slightly modified 737 Max.
