Ryanair’s net profit has more than doubled during the April-June quarter, carried by the Easter holiday period and the best last-minute rates than expected, the first low-cost company in Europe announced on Monday.
The Irish company, European leader in number of passengers, recorded a net profit of 820 million euros ($ 953 million) for the first quarter, against 360 million euros at the same period last year, when Easter fell in March.
A survey led by Ryanair to analysts anticipated a profit of 716 million euros.
“The prices of the first quarter greatly benefited from a full period of Easter holidays in April, low comparison bases last year and a slight increase in last -minute prices,” said general manager Michael O’Leary in a statement.
The average rates increased by 21 % compared to the same quarter last year, the press release said.
“We carefully plan to recover almost all of the 7 % drop in prices throughout the previous year, which should lead to reasonable growth in net profit for financial year 2026,” which will end on March 31, “added O’Leary.
The Ryanair action closed Friday at 23.12 euros, down 7.5 % compared to its historic record of 24.98 euros reached on July 8.
(1 dollar = 0.8603 euros)
Written by Conor Humphries; Published by Janane Venkatraman