Ryanair, Europe’s No.1 airline, today (Fri, 23 May) announced over 2,000 extra seats for the UEFA Euros 2024 match between England and Denmark at Germany’s Frankfurt Arena on Thurs, 20^th June.

These extras flights to/from Frankfurt Hahn will operate from Wed, 19^th until Sat, 22^nd June as follows;

Ryanair Head of Comms, Jade Kirwan said:

“With England set to take on Denmark at Germany’s Frankfurt Arena on Thurs, 20^th June in the UEFA Euro 2024 group stage, Ryanair has added over 2,000 extra seats for England fans travelling to watch what’s set to be an unforgettable match in-person.

We have extra flights from London Stansted, Manchester, Bristol and Birmingham, ensuring that fans can conveniently get to/from Frankfurt on match day, as well as having the opportunity to soak up the pre- and post-game atmosphere on the ground.

Book your Ryanair flight to the UEFA Euro 2024 match between England and Denmark in Frankfurt at ryanair.com now.”

Rüdiger Franke, Managing Director of TRIWO Hahn Airport said: 

“We as an airport are also looking forward to a big football festival in Germany. The fact that football fans are taking advantage of Ryanair’s attractive offers to travel to Hahn Airport and start their European Championship adventure from there is a great thing. As usual, we are optimally prepared as an airport.”

TRAFFIC GROWS 9%TO 184M DESPITE BOEING DELAYS
€700M SHARE BUYBACK ANNOUNCED

Ryanair Holdings plc today (20 May) reported full-year PAT growth of 34% to €1.92bn, as traffic grew 9% to 184m passengers (23% more than pre-Covid).  The Group’s industry leading cost base and increased revenues helped to offset a significantly higher fuel bill as hedged oil prices rose from $65bbl in FY23 to $89bbl in FY24.

	Mar. 2023	Mar. 2024	Change
Customers	168.6m	183.7m	+9%
Load Factor	93%	94%	+1pt
Revenue	€10.78bn	€13.44bn	+25%
Op. Costs	€9.20bn*	€11.38bn	+24%
PAT	€1.43bn*	€1.92bn	+34%

FY24 Highlights:

• Traffic grew 9% to 183.7m, despite Boeing delays.
• Rev. per pax up 15% (ave. fare +21% & ancil. rev. +3%).
• Fuel bill rose 32% (+€1.25bn) to €5.14bn.
• ESG ratings upgraded (MSCI ‘A’ & CDP ‘A-’) & strong 85% CSAT score achieved.
• 146x B737 “Gamechangers” in 584 aircraft fleet at Mar. 2024 due to Boeing delays.
• 5 new bases and over 200 new routes open for S.24.
• FY25 fuel over 70% hedged at just under $80bbl saving €450m.
• Maiden int. div. €0.175 paid in Feb.  Final div. of €0.178 (payable in Sept.).
• 300x B737-MAX-10 order underpins growth to 300m pax (FY34) subject to Boeing deliveries.

 

Ryanair’s Group CEO Michael O’Leary, said:

ENVIRONMENT:
“CDP recently awarded Ryanair an ‘A-’ climate rating (previously ‘B’), topping off a year of ESG upgrades incl. our industry leading MSCI ‘A’ rating (up from ‘BBB’), and retention of our Sustainalytics ranking as Europe’s No.1 airline for ESG.  Our new aircraft and increasing use of SAF has positioned Ryanair as one of the EU’s most environmentally efficient major airlines.  In FY24 we took delivery of 48x B737-8200 “Gamechangers” (4% more seats, 16% less fuel & CO2) and we retro-fitted winglets on over 25% of our B737NG fleet (target 409 by 2026), reducing fuel burn by 1.5% and noise by 6%.  Last year we expanded our SAF partnerships (incl. our first UK delivery from Shell) and we remain on track to achieve our ambitious 2030 goal of powering 12.5% of Ryanair flights with SAF (10% supply already secured).  In Apr. we extended our partnership with Trinity College Dublin’s Sustainable Aviation Research Centre (“TCD”) to 2030.  TCD’s valuable research facility supports the acceleration of SAF deployment across Europe.

In 2023 Europe suffered 67 days of ATC strikes, causing thousands of (avoidable) flight cancellations to/from Germany, Spain, Italy and the UK while France (in particular) uses minimum service laws to overprotect French local/domestic flights.  As we head into S.24, we again call on the EU Commission to deliver urgent reform of Europe’s inefficient ATC system, by protecting overflights (during national strikes) which would deliver important environmental improvements in EU air travel.  Regrettably, there has been zero action from the Commission on this environmental initiative.  We again call on  Commission President Ursula von der Leyen to defend the single market for air travel by protecting 100% of overflights during national ATC strikes, as is already the case in Greece, Italy and Spain.

GOVERNANCE:
The Board is pleased to welcome 2 new NEDs from 1 July, Ms. Jinane Laghrari Laabi (Morocco) and Ms. Amber Rudd (UK).  Jinane is a former partner with McKinsey & Company (Casablanca) covering Morocco, Africa & Middle East.  Amber is a former UK MP who held senior cabinet positions including Home Secretary and Secretary of State for Energy and Climate Change.  To facilitate these appointments, Louise Phelan and Michael Cawley have confirmed that they will step down from the Board at the end of June having completed their 9 year tenure and we thank them sincerely for their leadership and service.  These new appointments, which align with our orderly succession plans, further enhance Ryanair’s Board diversity (geographic, gender and ethnic balance) with a 50:50 gender split following these latest changes. Our Chairman (Stan McCarthy) recently refreshed Board Committees to reflect these Board changes. 

During FY24, Ryanair’s EU ownership continued to increase and was just over 48% at year-end (up from 46%).

FLEET & GROWTH:
Ryanair had a fleet of 146x B737 Gamechangers at year-end and we hope to increase this to 158 by the end of July, which is 23 short of our contracted Boeing deliveries.  We continue to work closely with Boeing CEO (Dave Calhoun), CFO (Brian West) and the new Seattle management team to improve quality and accelerate B737 aircraft deliveries.  There remains a risk that Boeing deliveries could slip further.  We plan to deliver as much growth as possible for passengers and airport partners in S.24, although these delays mean more traffic growth will occur in lower yielding H2 than planned.  To facilitate this growth, we will continue to take delivery of B737s through Jul., Aug., and Sept., and Lauda recently extended 3x A320 op. leases by 4-years to 2028.

Travel demand in Europe is strong for S.24 and, despite Boeing delivery delays, we will operate our largest ever Summer schedule with over 200 new routes (and 5 new bases).  S.24 short-haul EU capacity is constrained as competitor airlines ground A320 aircraft for P&W engine repairs (these disruptions will likely run into 2026) and OEMs struggle to recover their delivery backlogs.  We therefore urge customers to book Summer travel early on www.ryanair.com to secure the best airfares before they sell out.

We expect European airline consolidation to continue, with the takeover of ITA (Italy) and Air Europa (Spain) progressing and the sale of TAP (Portugal) next.  This, in addition to A320 fleet groundings and the large backlog of OEM aircraft deliveries, is likely to constrain capacity growth in Europe for some years.  These capacity constraints, combined with our significant cost advantage (incl. FY25 fuel hedge savings of €450m), strong balance sheet, low-cost aircraft orders and industry leading resilience, will (we believe) underpin a decade of profitable growth for Ryanair as we grow to 300m passengers by FY34. 

FY24 BUSINESS REVIEW:

Revenue & Costs:
FY24 scheduled revenue increased 32% to €9.15bn.  Traffic grew 9% to 183.7m while ave. fare rose 21% to €49.80, thanks to a record H1 and strong Easter traffic in late Mar., offset by softer than expected Q3 fares and load factors (following the sudden, but welcome, removal of Ryanair flights from many OTA Pirate websites in early Dec.).  Ancillary sales increased 12% to €4.30bn (c.€23.40 per passenger).  Total FY24 revenue rose 25% to €13.44bn.  Operating costs increased 24% to €11.38bn, primarily due to a 32% increase in fuel costs, higher staff costs (incl. pay restoration, crew, engineering & handler pay rises, higher crewing ratios and pilot productivity pay as we improve operational resilience) and Boeing delivery delays.  More importantly, the widening cost gap between Ryanair and our EU competitors (which is further enhanced by Ryanair’s low-cost financing and net interest income) remains a growing competitive advantage.

Our FY25 fuel requirements are over 70% hedged at just under $80bbl and 80% of €/$ opex is hedged at $1.11.  This strong hedge position locks-in approx. €450m savings on fuel, and substantially insulates the Group from current fuel price volatility.

Balance Sheet & Liquidity:
Our balance sheet remains one of the strongest in the industry with a BBB+ credit rating (both S&P and Fitch) and €4.12bn gross cash at year-end, despite €2.4bn capex and well over €1bn debt repayments.  Year-end net cash was €1.37bn (PY: €0.56bn), somewhat boosted by Boeing delivery delays.  Our owned B737 fleet (556 aircraft) is fully unencumbered, which significantly widens our cost advantage over competitor airlines, many of whom are exposed to rising aircraft lease and financing costs.

SHAREHOLDER RETURNS:
Our strategy, as Ryanair recovered from Covid, was to prioritise pay restoration and multi-year pay increases for our people, which has now been delivered.  Secondly, in a higher interest rate environment, we intended to pay down remaining debt as it matures in 2025 and 2026, while also financing our aircraft capex from internal resources.  Once these priorities have been secured, Group policy is to prioritise growth to drive shareholder value while maintaining a strong, investment grade, balance sheet, and delivering shareholder returns.

In line with the above Capital Allocation Policy, Ryanair paid an interim dividend of €0.175 per share in Feb. with a final dividend of €0.178 per share due in Sept. following our AGM.  Given current surplus cash, the Board has approved a €700m share buyback now (which will formally launch later this week).  This buyback when completed, will increase the funds Ryanair has returned to shareholders since 2008 to over €7.8bn.

OUTLOOK:
Ryanair expects to grow FY25 traffic by 8% (198m to 200m passengers), subject to Boeing deliveries returning to contracted levels before year-end.  Our cost advantage over competitors continues to widen, even though we expect FY25 unit costs to rise modestly as ex-fuel costs (incl. annualised pay & productivity allowance increases, higher handling & ATC fees and the impact of Gamechanger delivery delays on crewing ratios and fixed costs) is substantially offset by our fuel hedge savings and our rising interest income.  With EU short-haul capacity constrained, S.24 demand is positive, with bookings trending ahead of last year.  Recent pricing is softer than we expected, with Q1 requiring more price stimulation than last year (particularly as half of Easter moved into Mar. and out of Apr.).  While  visibility is limited, and the outcome will be heavily dependent on close-in peak S.24 pricing, we remain cautiously optimistic that peak S.24 fares will be flat to modestly ahead of last summer.  Q4 FY25 will not benefit from an early Easter (as it did in FY24).  It is therefore too early to be able to provide sensible or accurate FY25 PAT guidance.  The final outcome for FY25 will be heavily dependent upon avoiding adverse events during FY25 (such as wars in Ukraine and the Middle East, extensive ATC disruptions or further Boeing delivery delays).”   

 

€20M INVESTMENT, 200+ NEW JOBS & 1 NEW BASED AIRCRAFT

Ryanair, Europe and Lithuania’s no.1 airline, celebrates the opening of its 2^nd hangar at the Kaunas Airport, strengthening its commitment to the aviation industry in the region. The investment amount totals €20 million. The new hangar, covering an impressive area of 8000m2 (equivalent to over 6 Olympic swimming pools), has been designed with modern standards for aircraft servicing and maintenance. The investment also sees the creation of 200+ new positions in Kaunas (bringing the total employment to 400 people), including a significant number of highly skilled engineers and aircraft mechanics. The investment in Kaunas holds great significance in supporting the local aviation potential and creating new job opportunities.

Established in 2013, KAMS has been responsible for winter and summer checks for Ryanair’s fleet. With the opening of this hangar, the service will now be able to double its capacity for aircraft inspections – allowing up to 4 aircraft to be serviced at one time.

KUN New Hangar:

• 2^nd hangar at Kaunas Aircraft Maintenance Service
• €20 million investment (€40 million tot.)
• 200+ new jobs (400 total)
• Capacity to service 4 aircraft at one time
• 8000m2 = Over 6 Olympic swimming pools

Ryanair is committed to future growth and investment in Kaunas. As a result, it is adding 4 new routes to Berlin, Milan Bergamo, Pisa and Zadar in its biggest-ever schedule, now totalling 28 routes. To support this record schedule, Ryanair will base 1 new aircraft for S24 (additional US $100m investment) bringing Ryanair’s total Kaunas-based fleet to 3 – supporting over 1,250 jobs (including high-paid jobs for pilots, cabin crew & engineers) in the region.

To celebrate its record S24 schedule and the opening of Kaunas’ new hangar, Ryanair has launched a 3-day seat sale with fares from €21.99 on sale only at ryanair.com.

Eddie Wilson, Ryanair’s CEO, said:

“The opening of the second hangar at Kaunas is evidence of Ryanair’s continuous commitment to the region. This €20 million investment not only strengthens our servicing capabilities but also underscores our role in supporting economic growth and job creation. We take pride in the contribution we make to the expanding aviation industry in Kaunas. The second hangar demonstrates our strong investment in upgrading aviation infrastructure in Lithuania to accommodate the continually expanding Ryanair fleet which is evident through our growing schedule.

Today, we announce a record Kaunas schedule for S24, with 28 routes including 4 exciting new destinations for Summer to Berlin, Milan Bergamo, Pisa and Zadar. This growth is underpinned by Ryanair’s commitment to Kaunas Airport, adding 1 new based aircraft for S24. This increases Ryanair’s total Kaunas-based fleet to 3 – supporting over 1,250 jobs in the region. To celebrate its record S24 schedule for Kaunas, Ryanair has launched a 3-day seat sale with fares from €21.99 on sale only at ryanair.com”

Aušrinė Armonaitė, Minister of Economy and Innovation, said:

“As the European aviation sector is closing in on pre-pandemic levels, Lithuania will support the continent’s largest carrier in meeting the increasing demand for aircraft maintenance and repair.  The new investments will not only create numerous jobs for local aviation specialists, but also increase the overall competitiveness of the Kaunas airport and further consolidate its position as the regional leader in MRO services.”

Marius Skuodis, Minister of Transport and Communications said:

“I can say it clearly that Kaunas is becoming the region’s unstoppable hub for MRO services. Kaunas Airport is already the leading provider of MRO services in the Baltic region, and this position will undoubtedly be further strengthened.  This is the result of consistent airport activity and the implementation of the Aviation Roadmap 2035, developed together with the aviation community“, Minister of Transport ant Communications of Lithuania Marius Skuodis says.

Elijus Čivilis, the General Manager at Invest Lithuania said:

“Kaunas hosts the largest MRO cluster in the Baltics. With its skilled talent and infrastructure tailor-made for MRO activity, the city will undoubtedly facilitate the maintenance of Ryanair’s growing fleet. In the long-standing partnership between Ryanair and Kaunas Airport, the newest expansion project is another seal of approval on the quality of services Lithuania provides for Europe’s largest airline.”

Simonas Bartkus, CEO of Lithuanian Airports, said:

“We are pleased with the airline’s investments and its long-term decision to increase the scope of operations at Kaunas Airport by establishing one of the largest aircraft repair and maintenance bases in Europe. Our strategic goal at Lithuania’s second largest airport is to expand the MRO infrastructure and to adapt the airport’s capabilities to comfortably service aircraft that will use both the existing and new hangars in the future. We are ready to maintain our leading position in the Baltic region“.

Ryanair, the UK’s No.1 airline, today (10 May) launched over 11,000 extra seats to/from the UK ahead of the highly anticipated Euros 2024 taking place in Germany this June.

Following unprecedented demand from UK fans, Ryanair has added extra seats on existing key match routes, including

London Stansted to Dortmund and Frankfurt and Manchester to Cologne as well as launching brand new routes on a temporary basis. These include Edinburgh to Memmingen, Bristol to Frankfurt and Glasgow to Cologne ensuring that all fans can travel to watch the biggest games hosted in some of Germany’s most iconic stadiums, including Arena AufSchalke, Cologne Stadium, and Stuttgart Arena this summer.

RYANAIR EURO 2024 EXTRAS

These Euros 2024 extra seats are available to book now at ryanair.com

Ryanair’s Head of Comms, Jade Kirwan said:

“It’s going to be an epic summer of football with the return of the Euros this June. To celebrate and make sure all footy fans can enjoy the Championship in-person, Ryanair has added over 11,000 extra seats between Germany and the UK throughout June. This includes extra capacity on existing routes as well as the addition of  several special one-off flights, including Edinburgh to Memmingen, Bristol to Frankfurt and Glasgow to Cologne ensuring that all fans can cheer on their team from a stadium seat and soak in the match-day atmosphere.

Ryanair Euros 2024 extra flights are expected to sell out quickly, so avoid disappointment and book now at ryanair.com.”

RYANAIR’S LOW FARE FLIGHTS NOW AVAILABLE TO BOOK AS PART OF ESKY PACKAGE HOLIDAYS

Following the announcement of their “Approved OTA” (online travel agent) partnership in April last, Ryanair, Europe’s No.1 airline, today (Thurs, 9^th May) announced that its low fare flights are now available to book as part of eSky holiday packages, just in time for the peak Summer holiday season. For eSky customers who wish to book Ryanair flights/ancillaries, this exciting new partnership means;

• Customers benefit from Ryanair’s low fares combined with eSky’s dynamic holiday packages.
• Customers receive all flight-related communications directly from Ryanair, including T&Cs and important flight updates.
• Customers have direct access to their myRyanair account to manage their booking.
• Customers don’t have to complete Ryanair’s customer verification.

 

Over the past few months, Ryanair has signed “Approved OTA” distribution agreements with six large OTAs, including this partnership with eSky, demonstrating how OTAs can work transparently with Ryanair to benefit consumers.

Speaking from Warsaw, Ryanair CMO, Dara Brady, said:

“We’re delighted to be in Warsaw with the eSky team today to officially launch our partnership. This is great news for eSky customers who will now be able to book Ryanair’s low fares as part of their eSky booking with full price transparency (no overcharges or hidden mark-ups) and direct access to their booking through their myRyanair account.

With the peak summer season just around the corner, we look forward to seeing lots of happy eSky customers onboard our low fare Ryanair flights across 300 routes from our 13 Poland airports.”

eSky Group CEO, Łukasz Habaj, said:
“It’s our pleasure to be here with Ryanair and announce that we’re finally live with our integration. This partnership underscores our commitment to bringing our customers value with stand-alone flights and City Break and Holiday packages. Ryanair’s extensive flight network and low prices will significantly contribute to our offering and strengthen the Lowest Price Guarantee on our Flight+Hotel offers.”

RESEARCH SHOWS 43% EMISSION REDUCTION BY USING 50% SAF BLEND

Ryanair, Europe’s no. 1 airline, announced today (Thurs, 9^th May) the extension of its partnership with Trinity College Dublin (TCD) out to the end of the decade as the airline makes a further €2.5m donation (€4m total) to fund the Ryanair Sustainable Aviation Research Centre.

Underpinned by an initial €1.5m donation from Ryanair, Research at the Ryanair Sustainable Aviation Research Centre started in Sept 2021 addressing the complex challenge of progressing sustainable aviation. With Ryanair’s extended funding, the multi-disciplinary research team will continue to focus on Sustainable Aviation Fuel (SAF) and zero carbon aircraft propulsion systems as well as expanding the scope of the research to examine aviation’s non-CO2 emissions.

Over the past 3 years, the Ryanair Sustainable Aviation Research Centre has made significant research developments in the following core areas;

• examining the sustainability of different SAF types
• reducing the cost to certify new SAF candidates
• evaluating the operating impact of zero carbon aircraft propulsion and noise mapping

Results of this research, which have been presented at the European Union Aviation Safety Agency, show that the emission intensity of a passenger travelling on a Boeing 737-800 NG flight from Amsterdam to Dublin can be reduced by 43% by using a 50% SAF blend. This could be further reduced by using Ryanair’s ‘Gamechanger’ Boeing 737-8200, which is 16% more fuel efficient than the 737-800 NG.

Ryanair’s Director of Sustainability, Thomas Fowler, said: 

“Progressing towards our ambitious sustainability goals of Net Zero by 2050 and 12.5% SAF by 2030 will not be possible without continued support for the best-in-class research that is being done by the Ryanair Sustainable Aviation Research Centre at Trinity College Dublin. Expanding out the research to better understand the non-CO2 impacts from aviation is an important next step to lead our industry towards more sustainable aviation.”

Dr Linda Doyle, Provost and President of Trinity College Dublin, said:

“Research must be central to combating climate change and promoting sustainable transport. Trinity is now recognised as the 14^th best university in the world in delivering the UN Sustainable Development Goals, and has become a go-to international destination for sustainable aviation research. I want to thank Ryanair for their support: It is good news for the researchers in the Centre and for the students who will benefit from the teaching arising from the research.” 

Professor Sinéad Ryan, Dean of Research at Trinity College Dublin, said:

“Advancing sustainable aviation presents a complex challenge, which requires the multidisciplinary approach we take here in Trinity. Ryanair’s continued support will help to ensure ongoing and new research projects deliver a number of improvements and innovations, as well as supporting interactions with regulators, policy makers and aircraft manufacturers in the pursuit of more economically and environmentally sustainable commercial aviation.”

1 NEW AIRCRAFT, 5 NEW ROUTES & OVER 1,300 JOBS

Ryanair, Europe’s and Bulgaria’s No.1 airline today (08 May) celebrated its record Sofia schedule for S24, with 40 total routes, including 5 exciting new destinations to Alicante, Bristol, Copenhagen, Skiathos and Valencia. This record schedule sees Ryanair base 1 new aircraft for S24 (an additional $100M investment), bringing Ryanair’s total Sofia fleet to 4 based aircraft – supporting over 1,300 jobs (including 120 high-paying aviation jobs) in the Region.

Ryanair’s Sofia S24 schedule delivers:

• 5 new routes – Alicante, Bristol, Copenhagen, Skiathos and Valencia
• 40 total routes
• 1 new based a/c (4 total – US$400M invest.)
• 1.6M pax for S24 (+23% growth vs. S23)
• Supp. over 1,300 jobs

As part of this record S24 schedule, Ryanair is adding an additional Boeing 737 aircraft in Sofia (4 aircraft in total) and growing traffic by +23% to 1.6M passengers in S24 (vs. S23).  Ryanair is committed to being Bulgaria’s largest and most reliable airline, continuing to provide the best choice for Sofia’s citizens / visitors at Europe’s lowest fares. To celebrate its record S24 schedule and the 5 new routes in Sofia (Alicante, Bristol, Copenhagen, Skiathos and Valencia), Ryanair has launched a 3-day seat sale with fares from €21.99 on sale only at ryanair.com.

Ryanair’s Country Manager Alicja Wojcik Golebiowska said:

“As Europe’s and Bulgaria’s No.1 airline, Ryanair is pleased to celebrate our record S24 Sofia schedule with 40 routes – including 5 new routes to Alicante, Bristol, Copenhagen, Skiathos and Valencia – offering Sofia’s citizens / visitors the best choice for their summer holidays at Europe’s lowest fares. With the addition of 1 new Boeing 737 aircraft from S24, Ryanair is basing a total of 4 aircraft in Sofia (a US$400M investment), delivering 1.6M passengers this summer (+23% growth) and supporting over 1,300 jobs, including 120 highly paid aviation jobs. While other airlines cut capacity and reduce much-needed connectivity in Sofia, Ryanair continues to reliably deliver more traffic, more jobs, and lower fares than any other airline. To celebrate its S24 schedule for Sofia, Ryanair has launched a 3-day seat sale with fares from €21.99 on sale only at ryanair.com.”

SOF Connect’s CEO Jesus Caballero said:

“We are extremely happy and thankful about the fourth Ryanair aircraft based and the new destinations. This is great news for our airport, Bulgaria, and mostly for the Bulgarian travelers. Ryanair’s decision to significantly expand the flights is also confirmation of the excellent work of our teams and the great potential of Sofia airport.”