Read How Ryanair Performed In Q1 Amid Fragile Industry Recovery

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  • Ryanair Holdings plc RYAAY reported first-quarter FY23 revenue of €2.60 billion, an increase of 602% year-over-year. EPS was 16.53 euro cents, compared to (24.16) euro cents loss a year ago.
  • Ancillary revenue continued to perform strongly as traffic builds, delivering over €22.50 per passenger. Scheduled revenues increased by 721% to €1.58 billion.
  • Q1 traffic recovered to 45.5 million from 8.1 million in 1Q22 and +9% ahead of pre-COVID. The load factor was 92% compared to 73% a year ago.
  • Operating costs expanded by 253% Y/Y to €2.38 billion. Due to higher aircraft utilization, expenses for maintenance, materials, and repairs increased by 43% to €88 million.
  • FY23 fuel requirements are 80% hedged (65% jet swaps at $63bbl and 15% caps at $78bbl), and FY24 hedging has increased to 30% at ~$92bbl. 
  • Ryanair's growth plans to 2026 will create over 6,000 well-paid jobs for highly skilled aviation professionals across Europe.
  • Gross cash was €4.64 billion as of June 30, 2022, and net debt was €0.40 billion.
  • Following a recent review of B737NG op. lease opportunities and Boeing Co's BA failure to agree on competitive pricing on a new aircraft order, Ryanair decided instead to extend most of its Lauda A320 leases.
  • Ryanair plans to grow FY23 traffic to 165 million (+11% on pre-COVID traffic) and will pursue its load active, yield passive strategy to achieve this growth.
  • Price Action: RYAAY shares are trading higher by 3.56% at $73.50 during the market session on Monday.
  • Photo Via Wikimedia Commons
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