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RYANAIR HAS ANNOUNCED announced a return to profit in its first half as the aviation sector recovers following the lifting of Covid-19 travel restrictions.
Profit after tax came in at €1.37 billion in the six months to the end of September, after a net loss of €48 million a year earlier, Ryanair said in a statement.
Ryanair said it expected full-year profit of between €1.0 and €1.2 billion, adding that it did not expect the no-frills carrier to be hurt by Europe’s cost-of-living crisis owing to soaring inflation.
“The recovery for the remainder of full-year 2022/23 remains fragile and could yet be impacted by new Covid variants or adverse geopolitical events such as Ukraine,” Ryanair chief executive Michael O’Leary said in the statement.
“However forward bookings, both traffic and fares, remain strong… into the peak Christmas travel period.”
O’Leary said he hoped the sector would avoid a repeat of last year’s lockdowns caused by Covid’s Omicron variant “which damaged last Christmas at such short notice”.
He added that “concerns about the impact of recession and rising consumer price inflation on Ryanair’s business model have been greatly exaggerated”.
O’Leary said he expects the airline “to grow strongly in a recession as consumers won’t stop flying, but rather they will become more price sensitive”.
Ryanair said it flew 95 million passengers in its first half, up from 39 million one year earlier.
Revenue more than trebled to €6.6 billion.
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I didn’t do my homework because my Granny died.
@John Smith: hahaha I was literally just gonna write something very similar. Classic school homework excuse territory here
@John Smith: classic.
@John Smith: The queen made me do it, ffs take responsibility.
@John Smith: more like, I didn’t do my homework because someone else’s granny died. Someone I’ve never met cause me to crash the countries economy
Good man blame the dead, how low.
Kwami-Kwazi Kwashed the United Kwingdom because he felt kwushed by the Kween’s Death…
Seriously!?!? If this is true that actually makes it worse. It means that not only was it not thought through it was based on an emotional response. He and Truss almost ruined the British economy based on a snap decision not based on economic logic. This is crazy that he somehow thinks that makes it OK. The man really seems to be on the spectrum from what I’ve seen of him. Not that that’s a bad thing but not great when you are in charge of a countries finances.
Is he for real?
No comeback blaming a dead woman!
Queen’s passing is very fresh in the UK’s electorates mines… It’s a aparticularly bad idea to mention her death and his stupid mistake in the one sentence. Cant seeing him being in the job past halloween.
Ah yeah, blame poor Liz. Honestly the excuses are getting more ridiculous. None of them have a clue what they’re at
Glad he’s holding firm on the benefits. Working has to outweigh claiming the scratcher.
@Danny Gibson: what, like kwatengs work?
@Danny Gibson: Benefits? Hardly means you should start squeezing the poor because you’ve just discovered benefitting the rich isn’t working. Besides, some of the poor have jobs – it just doesn’t pay the bills any more, and not all the rich work do they, some are just lazing about letting the old dosh do the work for them. So what’s fair? The answer’s not always straightforward.
He is absolutely shameless. It must be something they learn at Eton. Arrogant posh boys blame everyone but themselves.
Just as well she didn’t arise after 3 days…could have cost him his head.
@Donal Desmond: Well at least he didn’t deny that he knew her before the rooster crowed.
@Mick Tobin: The thirty pieces of silver would have gone to the rich. It would eventually trickle down to the remaining eleven.
What a t__t
Pathetic
As thick as two short planks.
Almost makes you pine for Boris, Dorries and Patel…..
@Insider at RTE: almost though Patel was particularly toxic on many levels.
Big boys made me do it.
Will they ever stop telling lies…
And the bankers need extra bonuses
have your say