Ryanair obtained a net profit of 170 million euros between April to June, its first fiscal quarter, compared to losses of 273 million euros in the same period of 2021, still affected by the pandemic.
The accounts withstood the first strikes of their workers, which in the case of Spain will continue this week. The cabin crew ask to negotiate a collective agreement with improvements in conditions and wages. "To date, agreements for salary restoration have been reached with unions representing approximately more than 80% of our pilots and 70% of our cabin crew in Europe," said the airline's CEO, Michael O' Leary.
As reported this Monday through a statement, profits are still below the 243 million euros that it achieved in the same period of 2019, before the pandemic.
Proof of the return to a certain normality is that the number of passengers has grown by 461%, from 8.1 million to 45.5 million. Of course, the Russian invasion of Ukraine had a negative impact on reservations and Easter rates.
For its part, revenue grew 602%, to 2,600 million euros. The low cost entered for flights 1,576 million, 721% more, and for complementary services 1,030 million, 474% more.
Ryanair stated in a statement that it is cautiously approaching the rest of 2022, given the experience of the last two years with the variants arising from covid and the uncertainty of the war in Ukraine. “The recovery in the winter is fragile and very subject to the news that comes out about Covid and Ukraine,” Chief Financial Officer Neil Sorahan said in an interview.
In any case, O'Leary has indicated that the airline plans to generate around 6,000 jobs by 2026. In the next three years, the forecast is to expand its training centers with the investment of more than 100 million in two facilities, one of them in the Iberian Peninsula.
