(AOF) – Ryanair stumbles by 3.58% to 1,532 pence on the London stock exchange. The Irish airline announced a net profit up 34% to 1.92 billion euros for its staggered annual financial year ended at the end of March, supported by an increase in traffic and its prices, despite rising fuel costs. The consensus target was 1.905 billion euros. Its annual turnover increased by 25% to 13.44 billion euros. Ryanair wants to be cautiously optimistic about the summer prices of its tickets which should be stable or slightly higher than those of last year.
Chief executive Michael O’Leary warned two weeks ago that summer rates were likely to be lower than the 5% to 10% rise envisaged at the end of April. Ryanair said on Monday that its forecasts depended heavily on last-minute bookings for the summer.
The leading airline in Europe in terms of passengers carried has also indicated that it is still waiting for 23 aircraft that Boeing must deliver to it by the end of July; emphasizing that there is a risk – although “unlikely” – that deliveries could be further delayed.
In the financial year ended March 31, Ryanair carried 184 million passengers and reaffirmed its goal of increasing its traffic from 198 million to 200 million passengers in the new financial year.
The company initially expected, in March, a figure of 205 million passengers before aircraft delivery delays.
Ryanair also announced a €700 million share buyback, which will be officially launched later this week.
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