Ryanair has reported a profit of €360 million for the first quarter of its fiscal year, covering April to June 2024. This represents a significant decrease of 46% compared to the same period last year, when the airline earned €663 million.
The Irish carrier attributed the decline mainly to the timing of the Easter holidays, which fell partially in the fourth quarter, as well as lower-than-expected airfares. Despite facing delays in aircraft deliveries from Boeing, Ryanair is set to operate its largest schedule ever this summer. This includes over 200 new routes and the addition of five new bases aimed at maximizing growth while keeping fares low for its passengers and airport partners.
In May, Ryanair began a share buyback program worth €700 million, and it has already completed more than 50% of this initiative. Once this program concludes, the airline expects to have returned over €7.8 billion to shareholders since 2008. Additionally, Ryanair announced that it would pay a supplementary dividend of €0.178 per share in September.
For further updates on the airline industry, you can explore resources such as Airline Weekly or FlightGlobal.
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