Ryanair releases Q3 report and names latest board appointment

By Benedict Evans |

Source: Ryanair.

Ryanair has released its Q3 FY24 results, which show quarterly profit-after-tax (PAT) of €15 million ($16.2m).

Its nine-month PAT ending 31 Dec, 2023 rose 39% on the previous year to €2.19bn.

In spite of recent issues with online travel agencies (OTAs), a 1% reduction in its load factor and rising fuel costs, Neil Sorahan, CFO for Ryanair, was optimistic about the latest figures from Ryanair’s Q3 FY24 report.

This indicates a 10% increase in ancillary revenue (€23 per person), which is on par with the 15% increase in ancillary revenue (€23.30) reported in Q1 FY24.

An overview of the facts and figures from Ryanair’s Q3 FY24 report reveals strong revenue and profit-after-tax.

Ryanair has also reached agreements with several major online OTAs like Loveholidays and Kiwi.

The OTAs have been granted direct access to the Ryanair website.

In return, both have agreed to cease all screen-scraping operations, a process by which flight and ticket data was often pulled from the Ryanair website, with flights and services sold separately of the airline.

Ryanair CEO Michael O’Leary had previously labelled several OTAs as ‘pirates’  for their unnecessary, and in some cases unlawful overcharges on ancillary services.

Commenting on its recent partnerships with Loveholidays and Kiwi, O’Leary said: “The bookings will be made directly in ryanair.com, and passengers are not going to be ripped off, overcharged, or scammed.”

These agreements follow a successful and permanent injunction brought against OTA Flightbox by Ryanair at the Irish High Court in December last year.

Dara Brady, Director of marketing & Digital at Ryanair, commented: “This historic High Court ruling has reinforced Ryanair’s determination to pursue justice for our customers to ensure they get access to the lowest fares, cannot be overcharged by OTAs, and that they have direct access to manage their bookings and to receive up to date flight information.”

Roberta Neri joins the board

In other recent news for the ultra low-cost carrier, Roberta Neri will join the board of Ryanair Holdings plc as a non-exec director from 1 Feb, 2024.

As the former CEO of Enav, the Italian air navigations service provider, Neri has over 30 years’ experience in the aviation and renewables industries.

Stan McCarthy, Chairman of Ryanair, said of the appointment: “Roberta brings considerable aviation, regulatory and business experience to the role. As a senior Italian business figure,  we look forward to Roberta making a significant contribution to our Board as Ryanair delivers more low fare services and sustainable growth across Europe for the next decade.”

There have also been a number of changes at the Senior Independent Director (SID) level. Louise Phelan, Non-Exec SID, and Michael Cawley, Non-Exec Director, are not seeking re-election at this year’s AGM, and Róisín Brennan has been appointed as SID effective 1 Apr.

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