Ryanair Q1 Profit Doubles on Higher Fares

Ryanair's net profit more than doubled in the first quarter to €820 million ($953 million), compared to €360 million in the previous year, driven by a 21% rise in air fares and the timing of the Easter holiday in April. Passenger numbers increased by 4% to 57.9 million, and total sales climbed 20% to €4.34 billion. The airline expects to recover almost all of last year’s 7% fare decline during the busy summer period, though fare increases in the second quarter are expected to be lower. Bookings for the rest of the summer remain strong, and Ryanair is not experiencing the later booking trends reported by some competitors. Ongoing delays in Boeing aircraft deliveries continue to pose challenges, but Ryanair remains cautiously optimistic about achieving reasonable profit growth for the full fiscal year.