Ryanair optimistic about returning to pre-COVID profit levels this year

Ryanair optimistic about returning to pre-COVID profit levels this year.

 

Ryanair CEO Michael O’Leary told Reuters on Tuesday that the airline is hopeful but not certain of returning to pre-COVID profit levels of more than 1 billion euros ($1 billion) this year as travellers shift to low-cost services.

 

Last month, the Irish airline, Europe’s largest by passenger volume, stated that it was too early to make substantial profit forecast for the fiscal year that ends on March 31, 202

 

‘We hope to return to profitability of more than a billion dollars, but this is not guaranteed. To put it another way, we are trying our best,’ in an interview with Reuters, O’Leary state

 

‘I’m optimistic. However, there is too much uncertainty this winter over Ukraine, as well as the recession,’ he continue

 

Ryanair is already on track to surpass its pre-COVID peak of 149 million passengers per year, with a prediction of 166.5 million for the current fiscal year.