By Anthony O. Goriainoff

 

Ryanair Holdings said it will pay out a dividend of 400 million euros ($429.3 million) in 2024 after net profit in the first half of its fiscal year soared on traffic that grew 11%.

The Irish low-cost carrier said it will pay an interim and a final dividend of EUR200 million in February and in September, respectively.

"The board... will retain the flexibility to consider, when or if appropriate, the return of surplus cash to shareholders through special dividends and/or share buybacks," it said.

The airline said that for the period ended Sept. 30, net profit rose to EUR2.18 billion from EUR1.37 billion the year before, while revenue jumped to EUR8.58 billion from EUR6.62 billion.

Passenger numbers rose 11% to 105.4 million.

The airline backed its traffic guidance for the fiscal year of 183.5 million passengers but said this was dependent on Boeing meeting delivery commitments.

It expects pre-exceptional profit after tax for fiscal 2024 to be in the EUR1.85 billion to EUR2.05 billion range. Its guidance is highly dependent on the absence of unforeseen events such as the development of the situation in Ukraine and Gaza, Ryanair said.

 

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

 

(END) Dow Jones Newswires

November 06, 2023 02:25 ET (07:25 GMT)

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