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

Tips for maintaining your industrial tools and equipment

May 17, 2023

Alibaba commits $50bn to AI and cloud amid...

February 27, 2025

Skills shortage holds back UK SMEs

November 13, 2023

How to grow your online business with affordable...

August 7, 2023

Trump-Vance Ticket: A potential disaster for climate progress...

July 15, 2024

From Keywords to Conversions: A Deep Dive into...

September 27, 2024

Cost of living squeeze ‘is holding back’ UK...

May 2, 2023

KERB Hospitality Group Unveils 2024 Impact Report, Showcasing...

May 22, 2024

Post Office faces backlash over potential closure of...

November 13, 2024

Trump poised to ease impact of car tariffs...

April 29, 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

    • Elon Musk may speak to Trump aides in push to calm feud

      June 6, 2025
    • Everyone Talks About Leaving a Better Planet for Our Children: Why Don’t We Leave Better Children for Our Planet?

      June 6, 2025
    • MARK HALPERIN: Democrats try to construct a Frankenstein candidate while JD Vance gains momentum for 2028

      June 6, 2025
    • ‘Gone too far’: GOP lawmakers rally around Trump after Musk raises Epstein allegations

      June 6, 2025
    • Democrats begin to embrace Musk amid Trump spat after party railed against him as a ‘dictator’

      June 6, 2025
    • Trump administration defends US and Israeli sovereignty with new sanctions against four ICC judges

      June 5, 2025

    Categories

    • Business (8,149)
    • Investing (2,011)
    • Politics (15,544)
    • Stocks (3,130)
    • 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