Ryanair reported a full-year profit after tax of €1.43bn in the presentation of the 2023 financial year results.
The revenue of the low-cost airline was €10.78bn. Ryanair received €6.93bn by selling the tickets and €3.85 from the ancillary services such as priority boarding, seat reservation, or luggage.
It means on average each passenger pays Ryanair €41.1 for the ticket and €22.8 for the additional services not included in the fare.
The total operating expenses of Ryanair in FY 2023 were €9.2bn. The low-cost carrier had the largest bill for fuel – €3.9bn. Meantime the airline saved €1.4bn on fuel due to hedging. According to the Ryanair report, the carrier hedged over 80% of fuel at approximately $64 per barrel of oil.
“Almost all the Ryanair Group’s Boeing 737 fleet are owned and 99% are unencumbered, which significantly widens our cost advantage, as interest rates and leasing costs continue to rise for competitors”, noted Ryanair in the official statement.
The airline plans to increase fuel efficiency in FY 2024 after the deliveries of brand-new Boeing 737-8200 aircrafts. The airplanes have 4% more seats but consume 16% less fuel than Boeing 737-800 aircraft in the Ryanair fleet.
