Ryanair reports 211-mln-euro net profit in Q3 FY23

Europe's largest budget airline Ryanair on Monday reported a net profit of 211 million euros (229 million U.S. dollars) in the third quarter of the fiscal year 2023 (Q3 FY23), compared to a net loss of 96 million euros in the same period a year earlier.

The airline attributed the growth mainly to strong Christmas and New Year traffic.

Ryanair said that in Q3, which covers the last three months of 2022, it had carried a total of 38.4 million passengers, up nearly 24 percent compared with the 31.1 million passengers it handled in the same period a year ago.

The airline also reported a year-on-year increase of 57 percent in its Q3 revenue, which stood at 2.31 billion euros.

Ryanair predicts that in the full fiscal year 2023 (April 2022 to March 2023), it will carry a total of 168 million passengers. (1 euro=1.08 U.S. dollars)