The Irish group Ryanair entered Spain more than 1,883 million euros in its last fiscal year, ended on March 31, three times more than in 2021. The growth rate in Spain exceeds the total increase in the company’s billing low cost in the year and consolidates the country as its second market in sales, only behind Italy (2,364 million euros) and above the United Kingdom (1,589 million). Before the pandemic air crisis, in 2019, Spain ranked number four among Ryanair’s most relevant markets. In total, the group led by Michael O’Leary entered 10,780 million euros last year compared to 4,800 million the previous fiscal year. And he returned to benefits with earnings of 1,430 million, he announced yesterday in his results presentation.
All this with a record number of passengers transported, up to 168.6 million (its previous best record, before the covid, was 149 million passengers). In this way, it is consolidated as the first group of airlines in Europe by volume. The group has increased its advantage over other competitors after the pandemic. While other companies have been conservative and have gradually recovered their activity, the Irish group opted for a full-speed recovery that has led it to gain market share in much of Europe and especially in Italy, Poland, Ireland and Spain.
No more flights at 9.99 euros
For this year it plans to continue growing and reach 185 million passengers transported, with more than 2,500 routes and breaking the barrier of 3,000 daily flights. However, he warned that he could fall short of the passenger target due to delays in the deliveries of Boeing planes, with up to ten fewer planes than scheduled in June and July. Recently, the group sealed an agreement with the American manufacturer to buy 300 aircraft valued at more than 36,000 million euros, the largest order in its history, to accompany the expansion they have planned in the coming years.
In this new stage, the group leaves behind the ultra-cheap fares (less than ten euros per flight) that it popularized a few years ago. “The days of €9.99 may be long gone,” Neil Sorahan, Ryanair’s chief financial officer, said in an interview with Bloomberg Television. In fact, last year the price of tickets already increased by 10% compared to 2019, reaching an average rate of 41 euros.
Flying has become more expensive this year and Ryanair is no exception. And it doesn’t look like prices are going to loosen up any time soon. As the company said yesterday, a lower global supply of flights after the bankruptcies or fleet reductions of European airlines during the covid, the high oil prices, the shortage of planes and the return of Asian and American tourists continue to push prices upward.