A Ryanair Boeing 737-800 prepares to take off at Krakow Airport.
Omar Marques | Getty Images News | beautiful pictures
Ryanair on Monday said a return to pre-Covid profits this year is uncertain even as the carrier topped first-quarter profit estimates.
Profit after tax of 170 million euros ($174 million) for the quarter ended June, beating the estimate of 157 million euros in a poll of analysts, but very low compared to profit 243 million euros in the same quarter of 2019.
CEO Michael O’Leary said ticket prices for the July-September quarter are typically the most profitable time of the year, well above 2019 levels by a low percentage point of two. numbers.
He said: “The unpredictability around fuel prices, Covid-19 and geopolitical risks make it impossible to forecast profits for the full financial year ending March 31, 2023.
Ryanair expects profits and margins to return to pre-Covid levels, but the company is uncertain whether that will be achieved in the current or next financial year, O’Leary said in a video presentation. .
Ryanair posted a profit of 1 billion euros in the pre-Covid 2020 financial year, with 148 million passengers compared to the 165 million the company expects to fly this year.
“Any guidance can change very quickly from unexpected events beyond our control during a very strong but still fragile recovery,” O’Leary said.
