By Anthony O. Goriainoff


Ryanair Holdings shares rose in early trade Monday after it reported a 59% rise in net profit for the first half of fiscal 2024 following a record summer and declared a first-time dividend, sending shares in other European airlines higher.

The budget airline's shares at 0901 GMT were up 93 European cents, or 6.1%, at EUR16.13.

Shares in EasyJet were up 3.35% at 404.30 pence, with Wizz Air up 2.3% at 1,868 pence. International Consolidated Airlines rose 1% at 151.95 pence, with Air France-KLM up 2% at EUR12.00 and Lufthansa up 0.2% at EUR7.55.

Ryanair reported a net profit for the half year ended Sept. 30 of 2.18 billion euros ($2.34 billion), up from EUR1.37 billion the year before, as traffic grew 11% to 105.4 million passengers on a strong Easter period and record summer demand.

The airline also said average fares in the period rose 24% to around EUR58 with ancillary revenue up 14% to EUR23.70 per passenger.

For the year ahead Ryanair said it expects to report net profit of between EUR1.85 billion and EUR2.05 billion, assuming modest losses over the second-half winter period.

The company reiterated that it expects passenger numbers to grow 9% this year to 183.5 million, but said this depends on Boeing meeting aircraft delivery targets given continuing delays with fuselage supplier Spirit.

The airline said it is working with Boeing to minimize these delays ahead of the peak holiday season but that up to 10 of its 57 contracted deliveries expected this winter season may be delayed to next winter.

Ryanair has declared a dividend of 35 European cents a share for this year with the interim payout due in February and then a final in September. Going forward, the board plans to declare 25% of prior-year net profit as a dividend each year.


Write to Anthony O. Goriainoff at


(END) Dow Jones Newswires

November 06, 2023 04:28 ET (09:28 GMT)

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