RYANAIR SEES NO GROWTH IN SUMMER FARES – The comments came as they reported a record profit for the fiscal year ending March
Ryanair today warned that consumer anxiety surrounding the U.S.-Israeli war on Iran is likely to wipe out any growth in fares in the peak summer months, but the threat of fuel shortages is receding as suppliers adapt to the closure of the Strait of Hormuz.
Visibility on fares is poor, however, and the summer’s profitability will depend heavily on last-minute bookings, Ryanair said. the airline is “increasingly confident” that there will be no disruption to jet fuel supplies even after the summer as suppliers increase their volumes and seek alternatives to Gulf oil supplies, Chief Financial Officer Neil Sorahan said in an interview.
Ryanair reported an after-tax profit of 2.26 billion euros for the fiscal year, compared with a forecast of 2.20 billion euros in a company poll of analysts and up from 1.61 billion euros a year earlier.
