RYAAY - European Airline Ryanair's Q3 Profit Slumps As Higher Fuel Costs Offset Revenue Gains; Reportedly Eyes New Boeing Jet Purchase Strategy | Benzinga
Ryanair Holdings PLC (NASDAQ:RYAAY) reported third-quarter fiscal 2024 revenue growth of 17% Y/Y to €2.70 billion.
Net profit was €15 million, a significant fall from €211 million a year ago, as higher fuel costs offset revenue gains. The load factor for the quarter was 92%, lower than 93% a year ago.
Scheduled revenues were up 21% Y/Y to €1.75 billion, led by traffic growth of 7% Y/Y to 41.4 million customers and a 13% Y/Y rise in average fares to €42. Also, Ancillary revenue rose 10% Y/Y to €0.95 billion.
Operating costs increased 26% Y/Y to €2.7 billion on a 35% increase in fuel costs, higher staff costs, and the earlier timing of maintenance.
Net cash generated by operating activities for the nine months totaled €1.285 ...