Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Ryanair Reports Record €1.9bn Profit as Amber Rudd Joins Board

by May 20, 2024
May 20, 2024
Ryanair Reports Record €1.9bn Profit as Amber Rudd Joins Board

Ryanair has reported a record annual profit of €1.9 billion (£1.6 billion) and has announced the appointment of former UK Home Secretary Amber Rudd to its board. The airline also indicated that summer fares would be lower than previously expected.

Profits after tax surged by more than a third in the year ending March, driven by a 9% increase in passenger numbers, reaching 184 million, which is 23% above pre-pandemic levels. The Dublin-listed company anticipates carrying up to 200 million passengers in the current financial year but noted recent pricing has been softer than anticipated, necessitating lower fares to attract customers.

Ryanair expects prices to be “flat to modestly ahead of last summer,” yet acknowledged that “recent pricing is softer than we expected,” prompting adjustments to fare strategies.

Amber Rudd, who served as Energy and Climate Change Secretary under David Cameron and Home Secretary under Theresa May, will join Ryanair as a non-executive director on 1 July. Rudd, an investment banker before her political career, has since held roles with public relations firms, served as an adviser to Darktrace, and sat on the board of Centrica, the owner of British Gas.

Ryanair, now the world’s second-largest airline by market value, has faced criticism as one of the EU’s biggest polluters. The airline asserts that its investment in new aircraft will enhance fuel efficiency, potentially reducing carbon emissions per passenger, although total industry emissions are projected to rise with passenger growth.

Ryanair’s expansion efforts have been impeded by delays from Boeing, the US plane manufacturer. The airline expects to receive 12 new Boeing 737 Max aircraft between March and July but will be 23 planes short of the original contract due to safety scandals causing delivery delays.

Michael O’Leary, Ryanair’s CEO, stated, “We plan to deliver as much growth as possible for passengers and airport partners in [summer 2024], although these delays mean more traffic growth will occur in lower yielding [second half] than planned.”

As Ryanair navigates these challenges, it remains focused on growth and maintaining its competitive edge in the budget airline market.

Read more:
Ryanair Reports Record €1.9bn Profit as Amber Rudd Joins Board

0
FacebookTwitterGoogle +Pinterest
previous post
Advocates for IRS whistleblowers accuse Special Counsel Weiss of retaliation, misleading: ‘Smear campaign’
next post
NAO Warns Post-Brexit Border Checks to Cost UK £4.7bn

You may also like

Understanding the evolution of Guideline Daily Amounts in...

January 8, 2025

Crypto Rewards: 5 Crypto Credit Cards You Should...

January 26, 2023

UK and France join forces on navigation tech...

July 10, 2025

Burberry to cut 1,700 jobs in global savings...

May 14, 2025

UK employers’ hiring confidence hits lowest level since...

July 7, 2025

Santander to close nearly 100 branches, putting 750...

March 19, 2025

Shops and restaurants poised for consumer spending boost...

July 6, 2024

Drop in consumers buying electric cars as new...

October 5, 2023

Major League Baseball’s Ups And Downs With Twitter

March 29, 2023

Why More Businesses Are Turning to CTO as...

March 26, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Rachel Reeves warned she must raise £50bn in taxes or cuts to avoid fiscal crisis

      August 6, 2025
    • Neil Woodford fined £46m and banned from senior City roles over fund collapse

      August 6, 2025
    • £105m in Premium Bond prizes unclaimed – including 11 jackpots worth £100,000

      August 6, 2025
    • Why Are There Many New Online Casinos in Canada? Expert Opinion

      August 6, 2025
    • Brazil’s ex-president and major Trump ally Bolsonaro placed on house arrest

      August 6, 2025
    • Marjorie Taylor Greene urges Trump to commute George Santos’ federal prison sentence: ‘Far worse offenses’

      August 6, 2025

    Categories

    • Business (8,681)
    • Investing (2,174)
    • Politics (16,315)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved