Ryanair Records Impressive €663 Million Q1 2023 Profit

Ryanair has released its Q1 financial results, reporting Q1 profits of €663m compared to Q1 2022 profits of €170m. In the report, the airline attributes the increase in profit to a strong Easter, the Coronation providing an extra UK public holiday in May 2023 and weak PY comps. due to Russia’s invasion of Ukraine in February 2022.

The report also announced the launch of Ryanair’s 2023 Sustainability Report, ‘Aviation with Purpose’, complementing the airline’s recent $40bn order of 300 Boeing MAX-10 aircraft, its adjusted XO2 per pax/km target to 50g by 2031, as well as its 1.5 degree Climate Transition Plan.

Additionally, the report introduced Ryanair’s intent to create over 10,000 jobs for highly trained aviation professionals by FY34, with the growth facilitated by the purchase of 12 new CAE simulators, as well as the delivery of 90 more Gamechangers and 300 MAX-10s, with the total fleet expected to reach 124 aircraft by the end of July.