Ryanair posts record profit, sees strong rebound

STORY: Ryanair made record profits over the first half of the financial year.

The Irish airline earned close to $1.4 billion over the six months to the end of September.

That was well ahead of a previous best for the period set in 2017.

Ryanair benefited from a recovery in demand for travel and strong gains for ticket pricing.

Unlike many airlines, it kept its pilots and cabin crew up-to-date with their flying hours during global lockdowns, ready to take advantage of the rebound.

Now Chief Executive Michael O’Leary says the recovery is likely to stay strong for at least the next three years.

He expects Ryanair to grab more market share over that time, and return to pre-health crisis profit levels.

It’s already Europe’s biggest airline by passenger numbers.

While the winter months will be loss-making, the firm still expects to be in the black for the year as a whole.

Monday’s (November 7) bullish numbers come after upbeat guidance from several rivals.

Wizz Air and Lufthansa are among those to say they still see strong demand for travel despite inflation fears.

Ryanair shares were up over 3% in early trades on Monday.