Low-cost Irish airline Ryanair reported a 34% increase in annual profits after tax, amounting to €1.92 billion (£1.64 billion) for the year ending in March 2024. This boost came amid a 25% rise in revenues to €13.44 billion (£11.51 billion) and a 9% increase in passenger numbers to 183.7 million, despite disruptions in Boeing aircraft deliveries.

CEO Michael O’Leary noted that recent fare pricing was “softer” than anticipated and the company is attempting to stimulate demand in the first quarter of the new financial year. He projected an 8% growth in passenger numbers to 200 million over the next year, though it is too early to provide profit guidance for 2024-25.

Ryanair is facing delays in receiving new Boeing 737 Gamechanger aircraft, expecting to be 23 planes short of the contract by the end of July. The airline had 146 of these aircraft by the end of March and aims for 158 by July, pending further potential delays. Additionally, former UK Home Secretary Amber Rudd will join Ryanair’s board as a non-executive director starting July 1, 2024.