Why European Airline Ryanair's Shares Are Seeing Blue Skies Today

Grand News Network | November 6, 2023

Ryanair Holdings PLC (NASDAQ: RYAAY) shares are trading higher by around 10% after it reported H1 FY24 revenue growth of 30% Y/Y to €8.58 billion.

Scheduled revenues were up 37% Y/Y to €6.1 billion, led by traffic growth of 11% Y/Y to 105.4 million customers and a 24% Y/Y uptick in average fares to €58. Also, Ancillary revenue rose 14% Y/Y to €2.5 billion.

Net profit escalated to €2.18 billion, a significant increase from €1.37 billion a year ago, benefiting from record summer traffic. EPS rose 72% Y/Y to €1.91 in the quarter.

Operating costs increased 24% Y/Y to €6.2 billion on higher fuel costs (+29% Y/Y to €2.8 billion), staff costs, and ATC fees.

Net cash generated by operating ...

Full story available on Benzinga.com

Disclaimer: The views, recommendations, and opinions expressed in this content belong solely to the third-party experts. This site was not involved in the writing and production of this article.

Disclaimer Press Release Banner