Ryanair earnings: RYA profits climb 34% to record high despite Boeing 'delays'

This morning, airline company Ryanair Holdings PLC announced their full year results for FY 2024.

Record-breaking profits

The Irish company reported a 34% rise in profits after tax to €1.92 billion as the carrier saw an increase in customers to 183.7 million fliers in the year, a 9% increase as compared with 2023.

This is the highest level of profit ever recorded for the airline company.

Revenues also increased by a significant 25% to €13.44 billion.

Rising costs

This was in spite of Ryanair's fuel bill rising by about €1.25 billion, roughly 32%, to a total of €5.14 billion for fuel costs. On this fact, Ryanair said that:

Boeing impacts on Ryanair plans

Ryanair also provided a Boeing update. Like other airlines, Ryanair has been impacted by the myriad problems facing the US aircraft maker.

However, Ryanair remained optimistic about future prospects, saying that "travel demand in Europe is strong for Summer 2024 and, despite Boeing delivery delays, we will operate our largest ever Summer schedule with over 200 new routes (and 5 new bases)."

Dividends and share buybacks

It's been an exciting first half of 2024 so far for Ryanair. Today's earnings mark the highest In February, the company paid its first-ever dividend of €0.175 to shareholders.

They also announced today that a final dividend for the 2024 FY of €0.178 will be payable in September 2024. This will be the company's second dividend ever, coming out approximately six months after its first.

The company will also engage in a share buyback scheme for its shareholders. As it announced today:

FY 2025 Ryanair outlook

Skies look clear for Ryanair in the upcoming financial year - but this is heavily dependent on keeping fuel costs in check and also on relative geopolitical stability in the Middle East and Ukraine areas.