Category Archives: Ryanair

Ryanair announces its Winter 2022/23 schedule for Hungary, denounces Hungarian tax

Ryanair has announced its upcoming Hungarian Winter 2022/23 schedule with one new route to the exciting destination of Lanzarote.

This brings Ryanair’s total Winter 2022/23 routes to/from Hungary to 53, giving customers more Winter travel options and driving further inbound tourism throughout the off-peak season.

With 90 bases and over 2,500 routes operating across 36 European countries this Winter, Ryanair continues to drive traffic recovery and create jobs across Europe sustainably with a growing fleet of new Boeing 737 “Gamechanger” aircraft, which burn 16% less fuel and 40% less noise emissions, while adding 4% more seats.

In other news, Ryanair has called on Minister of Economic Development, Márton Nagy, to explain why;

  1. Airlines are being levied an excess profits ‘tax’, to ‘protect Hungarian families’, when airlines are reporting record losses due to Covid and the Ukraine invasion.
  2. Why are Hungarian families and visitors being asked to pay higher fares when air travel to/from Hungary has suffered 2 years of Covid and Ukraine losses?
  3. How does raising taxes on air travel ‘help’ Hungarian families.

This is not an ‘excess profits’ tax, it is just highway robbery by a Government that is completely out of touch with reality. When other EU Govt’s are cutting travel taxes/airport charges to recover traffic, tourism and jobs post Covid (and the Ukraine invasion), Hungary’s Minister Nagy is following a new and failed economic strategy of imposing ‘excess profits’ tax on loss making airlines like Ryanair and Wizz, which will further reduce the competitiveness of Hungary’s air travel and tourism industries.

Ryanair welcomes the proposed consumer protection investigation and calls on the Budapest City Council to extend this probe to investigate how the Hungarian Government is introducing an ‘excess profits’ tax on a loss-making industry such as airlines. When the loss-making airlines are trying to recover from Covid and Russia’s invasion of Ukraine, the last thing we or passengers need is an ‘excess profits’ tax. Perhaps Minister Nagy can explain why this idiotic tax is being imposed on the loss-making airline sector.

Ryanair’s CEO Michael O’Leary said:

“One can understand why the Hungarians might impose an excess profits tax on the oil and gas sectors, who are making windfall profits as a result of Russia’s illegal invasion of Ukraine. But to extend this ‘excess profits’ tax to a loss making industry like air travel, which is struggling to recover from 2 years of Covid, and the more recent impacts of Russia’s invasion of Ukraine, shows that Minister Nagy has forgotten his economics. We will be sending him a new booklet ‘Economics for Dummies’, which we hope he will study so he can now explain why an ‘excess profits’ tax is being imposed on a loss-making industry like airlines. These taxes cannot be borneby loss-making airlines, hard-pressed passengers or their families, and will therefore lead to a dramatic fall in air traffic in Hungary at a time when Hungary’s tourism sector is preparing for post-Covid recovery.

At a time when many other EU countries are lowering taxes and fees to recover traffic, tourism and jobs, the Hungarian Govt. is doing the opposite by making air travel to/from Hungary more expensive and less competitive, which will damage Hungarian air-traffic, tourism and jobs recovery. We call on Minister Nagy to reverse this idiotic ‘excess profits’ tax, or at least confine it to industries like oil or gas who are making windfall profits, and not airlines who are reporting record losses”.

Ryanair aircraft photo gallery:

Ryanair’s May traffic grows to 15.4 million passengers

Ryanair Holdings plc has released its May traffic statistics as follows:

Ryanair operated over 88,400 flights in May.


Prior Months Guests L.F %
December1   9.5m 81%
January1   7.0m 79%
February1   8.7m 86%
March2 11.2m 87%
April 14.2m 91%
May 15.4m 92%

1 Dec, Jan and Feb traffic was damaged by Omicron restrictions.

2 Mar traffic was damaged by the Russian invasion of Ukraine on February 24.

In other news, Ryanair on June 1celebrated its 10th anniversary of operations at Cologne/Bonn Airport with an exciting summer schedule that includes 38 routes to destinations such as Budapest, Lisbon and Palermo. The five Ryanair aircraft are based in Cologne/Bonn.

Since beginning operations at Cologne/Bonn Airport in 2012 and opening the base in 2014, Ryanair has flown more than 14 million passengers to/from Cologne/Bonn, bringing significant benefits to the local economy.

Ryanair’s summer timetable to Cologne/Bonn offers residents of the region a wide range of summer holiday destinations, including the new routes to Biarritz, Rome and Stockholm, or a city trip to Athens, Copenhagen or Vienna. Visitors from the main markets can visit Cologne, in the heart of North Rhine-Westphalia, with its vibrant atmosphere. Discover the architecture with an impressive history and take advantage of numerous cultural offers along the Rhine.

Ryanair aircraft photo gallery:

Ryanair reports full year loss of €355 million ($369.6 million)

Ryanair Holdings today (May 16, 2022) reported a full year loss of €355m (pre-exceptionals), compared to a PY loss of €1,015m.

FY end 31 Mar. 2021 31 Mar. 2022 Change
Customers 27.5m 97.1m +253%
Load Factor 71% 82% +11pts
Revenue €1.64bn €4.80bn +193%
Op. Costs €2.48bn €5.27bn* +113%
Net Loss (€1,015m) (€355m)* n/m

* Non-IFRS financial measure, excl. €114m except. unrealised mark-to-market net gain on jet fuel caps.

During FY22:

  • Ryanair’s CDP[1]climate protection rating improved from “B-” to “B.
  • Sustainalytics[2] ranked Ryanair the No.1 EU airline & No.2 World airline for ESG.
  • Traffic recovered strongly to 97.1m from 27.5m.  (Still 35% behind pre-Covid)
  • Ave. fares fell 27% to just €27 due to Covid, Omicron & the Ukraine invasion.
  • 61 B737-8200 “Gamechangers” delivered up to 31 Mar. (500 SH aircraft at year-end).
  • 770 new routes & 15 new bases were announced for the coming year.
  • Fuel well hedged at significant discount to spot prices (FY23 80%; H1 FY24 10%).
  • S.22 capacity at 115% of S.19 (pre-Covid) levels – but recovery is ‘fragile’.

Ryanair’s Michael O’Leary, said:


“Every consumer who switches to Ryanair from EU legacy airlines can cut their CO₂ emissions by up to 50% per flight.  Over the coming 5-years we expect our traffic to grow by 50% to 225m p.a.  This growth will be delivered at lower fares but on a fleet of new B737 “Gamechanger” aircraft, which offer 4% more seats, yet burns 16% less fuel and reduce noise emissions by 40%.

Our work with the EU, fuel suppliers, and aircraft manufacturers to accelerate sustainable aviation fuel (SAF) supply continues, in partnership with Trinity College’s Sustainable Aviation Research Centre.  Ryanair hopes to power up to 12.5% of our flights using SAF and cut our CO₂ per pax/km by 10% to under 60 grams by 2030.  Last month we announced a partnership with Neste to power up to one third of our flights from Schiphol (Amsterdam) with a 40% SAF blend.  We expect to establish similar partnerships across our network over the coming years.  We are working with A4E and the EU to accelerate reform of the Single European Sky, to promote ATC efficiency and cut delays which will reduce fuel consumption, CO₂ emissions and flight delays.

Ryanair published our “Aviation with Purpose” sustainability report setting ambitious environmental and social targets over the coming decade and mapping out Ryanair’s path to net carbon zero by 2050.  Our environmental strategy has enabled CDP to upgrade Ryanair’s climate protection rating to B from B- in Dec. 2021.  Our goal remains to achieve an “A” rating within the next 2 years.  Last month, Sustainalytics improved Ryanair’s ESG rankings to No.1 airline in Europe and the No.2 globally.


Our growth plans to 2026 will see Ryanair create over 6,000 well-paid jobs for highly skilled aviation professionals all over Europe.  Last autumn Ryanair invested €50m in a cutting-edge Aviation Skills Training Centre in Dublin and we plan to invest over €100m in 2 more, high skills, training centres (one in the Iberian Peninsula and one in CEE) during this period.  To facilitate this growth, Ryanair ordered up to 8 CAE full flight simulators (at a value of over $80m) and the first of these new sims delivers this summer.  We have also invested in new hangar maintenance facilities in Kaunas and Shannon and agreed a 5-year maintenance contract with Joramco in Jordan.

Despite the recent disruption of our traffic recovery by both the Omicron variant and the Russian invasion of Ukraine, we remain committed to restoring the pay cuts we agreed with our people during the Covid shut downs.  We have made some progress with pilots and cabin crew in certain markets on partial restorations in 2022.  But, in other markets the slow pace of union negotiations have hindered this acceleration of similar restorations.  We remain committed to delivering the first tranche of our agreed 3-year restoration plan as agreed in July 2022 and we are prepared to accelerate years 2 and 3 into one restoration in July 2023 if Ryanair returns to pre-Covid load factors and profitability during y.e. Mar. 2023.  We are committed to the full pay restoration for all our people as soon as our business returns to pre-Covid profitability.

The Ryanair Customer Panel met twice over the last year, providing valuable insights and constructive suggestions to improve our customer service.  We have implemented many of these suggestions, including a Day of Travel service in the Ryanair App which assists our guests with live updates through every step of their  journey, a new travel wallet for accelerated refunds and an online self-service hub.  Later this summer we will introduce more service improvements, including auto check-in and airport express to facilitate faster journeys through airports. Our winning formula of the lowest fares, the most on-time flights, industry lowest CO₂ emissions and friendly customer service saw Ryanair’s customer satisfaction (“CSAT”) scores rise significantly in FY22.


Ryanair’s EU ownership has increased from approx. 32% at 31 Mar. 2021 to approx. 41% at 31 Mar. 2022.  In the wake of Brexit, and the treatment of UK nationals as non-EU shareholders from 1 Jan. 2021, Ryanair has worked hard to grow its EU shareholder base.  During the past year, Ryanair increased its EU investor relations activity, delisted from the London Stock Exchange, and forced sell downs where non-EU investors incorrectly (post 1 Jan. 2021) purchased ordinary shares instead of ADRs (listed on NASDAQ) and who subsequently failed to comply with a Ryanair issued disposal notice.  Such actions, coupled with a suspension of voting rights of non-EU shareholders, enable Ryanair to protect its EU airline licenses post-Brexit.  We expect these voting restrictions will remain in place for the near-term future until a 50%+ EU shareholding is restored, or the EU and UK agree a less restrictive airline ownership and control regime than the current 50%+ nationality rule (which dates back to the 1940s).


Over the past year our New Route team continued to work with airport partners to negotiate lower costs, Covid recovery incentives and growth deals.  In addition to 15 new bases (Agadir, Billund, Chania, Corfu, Cork, Madeira, Newcastle, Nuremberg, Riga, Stockholm, Venice (Marco-Polo), Venice (Treviso), Turin, Zadar & Zagreb), 770 new routes were announced and low-cost long term growth deals were extended at London Stansted (to 2028), Milan Bergamo (2028), Manchester (2028), East Midlands (2028) and Brussels Charleroi (2030).  Our Group has doubled its capacity in Rome (FCO), Lisbon, Vienna and has based a record 33 aircraft in Dublin for S.22, launching our biggest ever Dublin summer schedule.

The Covid-19 crisis accelerated the collapse of many European airlines including Flybe, Norwegian, Germanwings, Level, Stobart and material capacity cuts at many others including Alitalia (now ITA), TAP, LOT, SAS, etc.  The tsunami of State Aid from EU Govts. to their insolvent flag carriers (Alitalia, Air France/KLM, Iberia, LOT, Lufthansa, SAS, TAP and others) will distort EU competition and prop up high cost, inefficient, flag carriers for some years.  Ryanair was one of very few airlines during the Covid crisis to place significant new aircraft orders, to expand our airport partnerships, secure lower costs so that we can pass on even lower fares on many new routes during the post Covid recovery.  Over the past 2 years, Ryanair’s market share has increased markedly across Europe.  Notable examples include Italy where our market share increased from c.30% (pre-Covid) to almost 40% this summer.  Market share in Vienna has jumped from 8% (S.19) to 21% (S.22).  In Budapest (a competitor’s home base) we have gone from 18% to over 30% (and market leadership), Ireland rose from 49% to over 55%, Sweden doubled to 12% and Poland has grown from 25% to 35%. Up to March 2022, Ryanair has taken delivery of 61 B737-8200 “Gamechanger” aircraft and we hope to increase this to over 70 new aircraft for peak S.22 (more than the 65 previously targeted) to facilitate S.22 recovery and growth opportunities.  This Summer, our capacity will grow to approx. 115% of S.19 (pre-Covid) levels although we expect to fill these flights with lower fares and at higher fuel costs than pre-Covid.  Our new, fuel efficient, “Gamechangers” widen the cost gap between Ryanair and all other European airlines for the next decade. Their operational reliability, lower fuel consumption and CO₂ emissions have so far exceeded expectations, with very positive feedback from both passengers and our crews.  Based on our 210 order book and available fleet capacity, the Ryanair Group plans to accelerate traffic growth over the next 5 years.  From a pre-Covid figure of 149m, we now expect to grow (by 50%) to over 225m guests p.a. by FY26.


Revenue & Costs

FY22 scheduled revenues increased 156% to €2.65bn.  While traffic recovered strongly from 27.5m to 97.1m guests, the delayed relaxation of EU Covid-19 travel restrictions until July 2021 (Oct. in the case of the UK Govt.), combined with the damaging impact of the Omicron variant and Russia’s invasion of Ukraine in H2, meant that fares required significant price stimulation.  Ave. fares in FY22 were down 27% to just €27.  Ancillary revenue delivered a solid performance, generating more than €22 per passenger as traffic recovered and guests increasingly chose priority boarding and reserved seating.  Total revenues increased by over 190% to €4.80bn.

While sectors increased almost 200% and traffic rose 253%, operating costs rose just 113% to €5.27bn (incl. a notable 237% increase in fuel to €1.83bn), driven primarily by lower variable costs such as airport & handling, route charges and lower fuel burn as 61xB737 Gamechangers entered the fleet (offset by the higher cost jet fuel).  Lower costs, coupled with rising load factors, saw FY22 (ex-fuel) unit cost per passenger reduce to €35.

Our FY23 fuel needs are approx. 80% hedged (65% jet swaps at c.$63bbl and 15% caps at c.$78bbl).  Almost 10% of Ryanair’s H1 FY24 fuel requirements are hedged at c.$76bbl (via jet swaps). Carbon credits are 85% hedged for FY23 at €53 (well below the current spot price of almost €90).  This very strong fuel hedge position gives Ryanair a considerable competitive advantage for the next 12 months and will enable us to grow market share strongly over the coming year.

Balance Sheet & Liquidity

Ryanair’s balance sheet is one of the strongest in our industry with a BBB (stable) credit rating (S&P and Fitch).  Year-end net debt fell to €1.45bn (prior year €2.28bn), and over 90% of the Group’s fleet of B737 aircraft are unencumbered.  We plan to reduce this net debt to zero over the next 2 years, despite peak capex during that time.  The strength of Ryanair’s balance sheet ensures that the Group is well poised to capitalise rapidly on the many growth opportunities that exist in Europe into the post Covid-19 recovery this year and beyond.


While bookings have improved in recent weeks, the booking curve remains much closer-in than was typical (pre-Covid) at this time of year.  The damaging impact of the Omicron variant, and Russia’s invasion of Ukraine in Feb. means that Q1 pricing continues to need stimulation.  There is, however, pent-up demand and we are cautiously optimistic that peak S.22 fares will be somewhat ahead of peak S.19 (pre-Covid) levels.  Ryanair plans to grow FY23 traffic to 165m (up from 97m in FY22 and 149m pre-Covid) and will pursue its load active, yield passive strategy to achieve this growth.  While 80% of Ryanair’s fuel requirements are hedged well below current spot prices of over $100bbl, our unhedged 20% will give rise to some unbudgeted cost increases.

Despite limited H1 visibility (and almost zero H2 visibility), 20% unhedged fuel and the significant risks posed by both the invasion of Ukraine and Covid, we hope to return to reasonable profitability in FY23.  This recovery, however, remains fragile.  This was clearly evidenced by the sudden, and unexpected, emergence of the Omicron variant pre-Christmas and the Russian invasion of Ukraine in Feb., both of which immediately damaged close-in bookings and yields for the Christmas and Easter peak travel periods.  Given the continuing risk of adverse news flows on both these topics, it is impractical (if not impossible) to provide a sensible or accurate profit guidance range at this time”.

[1] CDP – Carbon Disclosure Project is an independent, non-profit, global environmental reporting organisation.

[2] Sustainalytics – a leading independent ESG & corporate governance research, ratings & analytics firm.

Ryanair aircraft photo gallery:

Ryanair announces winter maintenance agreement with STS Aviation Group

Ryanair has announced a new winter maintenance agreement with UK MRO provider, STS Aviation Group, which will see the airline undertake two lines of heavy maintenance at their modern MRO facility in Birmingham.

Ryanair’s fleet will grow to over 600 aircraft over the coming years and this agreement will ensure that the airline has flexibility as to where it places its aircraft for upcoming winter maintenance seasons.


Ryanair uses a mix of internal facilities and external suppliers to conduct its heavy maintenance. Ryanair continues to invest in internal heavy maintenance facilities and this agreement will complement these facilities to ensure the maintenance requirements are more than met over the coming years.

Ryanair aircraft photo gallery:

Ryanair announces a new winter route from Dublin to Genoa

Ryanair has announced a new route for its Dublin Winter 2022 schedule to Genoa.

The opening of this new route which will operate twice per week, will give Irish tourism a much-needed boost and will reinforce the airline’s commitment to Dublin, playing a key role in the recovery of local jobs, economy, and tourism industry.

Ryanair aircraft photo gallery:

Ryanair partners with Neste Holland to power flights with 40% SAF blend

Ryanair has announced a partnership with Neste, the world leading sustainable aviation fuel (SAF) supplier, to power approx. a third of its flights at Amsterdam Airport Schiphol (AMS) with a 40% SAF blend.

This blend will reduce greenhouse gas emissions by over 60%, supporting Ryanair’s Pathway to Net Zero by 2050 decarbonisation goals. Ryanair has already significantly advanced this commitment by partnering with Trinity College Dublin to open the Ryanair Sustainable Aviation Research Centre and investing $22bn in its ‘Gamechanger’ fleet, which offers 4% more seats but are 16% more fuel & CO2 efficient and reduce noise emissions by 40%.

Speaking at Amsterdam Airport Schiphol, Ryanair’s Director of Sustainability, Thomas Fowler said:

“We are delighted to announce this landmark deal with Neste which will see Ryanair uplift this new 40% SAF blend. SAF is a cornerstone of our Pathway to Net Zero by 2050 decarbonisation strategy and this new blend will power a third of Ryanair flights at Amsterdam Airport Schiphol while reducing greenhouse gas emissions by over 60%. We look forward to growing our partnership with Neste as we work toward achieving our goal of operating 12.5% of Ryanair flights with SAF by 2030.”

Jonathan Wood, Neste’s vice president Europe, Renewable Aviation said:

“We’re excited to support Ryanair work towards its decarbonisation goals by supplying our Neste MY Sustainable Aviation Fuel. SAF is a key element in achieving aviation’s emission reduction goals. The aviation sector is now at a tipping point as demand increases, and policy proposals are on the table in the EU and UK to promote demand and supply of SAF. Neste is leading the transformation to SAF and investing as we speak to increase global SAF production capacity to 1.5 million tons per annum 2023. It is great to see Ryanair as the first short haul carrier take our SAF at Amsterdam Airport Schiphol and we look forward to our joint journey towards a more sustainable future.”

Ryanair aircraft photo gallery:

Ryanair reports a rise in traffic in March, updates its guidance going forward

Ryanair (Malta Air) Boeing 737-8 (200) MAX 8 9H-VUW (msn 62338) BFI (Brian Worthington). Image: 957225.

Ryanair Holdings plc released March traffic statistics as follows:

  MAR 2021 MAR 2022
TRAFFIC 0.5m 11.2m2
L. FACTOR 77% 87%
Ryanair operated over 67,800 flights in March with an 87% load factor.
Rolling Annual  
TRAFFIC 27.5m 97.1m
L. FACTOR 71% 82%
October 11.3m 84%
November 10.2m 86%
December 9.5m1 81%
January 7.0m1 79%
February 8.7m1 86%
March 11.2m2 87%

Dec, Jan & Feb traffic was badly affected by Omicron restrictions.

Mar traffic was impacted by the Russian invasion of Ukraine which caused 2,000 flights to/from Ukraine to be cancelled in March due to airspace closures.

In other news, the company updated its guidance going forward:

Ryanair Holdings plc briefed the market that it expects to report a pre-exceptional FY22 (yr. ending on March 31, 2022) net loss of between -€350m and -€400m (previously guided range of -€250m to -€450m).  The Ryanair Group’s full-year traffic recovered strongly to over 97m (27.5m in FY21, but below pre-Covid traffic of 149m).

Ryanair’s balance sheet is one of the strongest in our sector with a BBB (stable) credit rating (S&P and Fitch).  Year end (March 31) net debt dropped to €1.5 bn (prior year €2.3 bn), and c.90% of the Group’s fleet of B737 aircraft are unencumbered.

Since our last market update on 31 Jan., Ryanair has increased FY23 (yr. ending on March 31, 2023) fuel hedging to 80% cover (c.65% jet swaps at $630 and 15% caps at $775 per metric ton).  Almost 10% of Ryanair’s H1 FY24 fuel requirements are hedged at $760 (via jet swaps).

As this is a closed period, the Ryanair Group’s next market update will be on May 16 when we release FY22 results.

Top Copyright Photo: Ryanair (Malta Air) Boeing 737-8 (200) MAX 8 9H-VUW (msn 62338) BFI (Brian Worthington). Image: 957225.

Ryanair (Malta Air) aircraft slide show:

Ryanair (Malta Air) aircraft photo gallery:

Ryanair to operate London Stansted – Lapland flights next winter

Ryanair has announced flights from London Stansted to Rovaniemi – Lapland next winter.

The airline will operate four weekly flights from November 3, 2022

Located in Finland’s northernmost region, Lapland is a stunning location filled with magical experiences that kids (big and small) will never forget. Experience a sleigh ride with a real-life reindeer, swap dog walking for husky sledding, stay in a cosy log cabin, see the Northern Lights and last but not least, meet the main man himself together with his team of elves and reindeer.

Ryanair aircraft photo Gallery:


Ryanair opens a new base at Newcastle

Ryanair has announced a new base at Newcastle, with two based aircraft, representing an investment of $200m and 60 new direct jobs, alongside the launch of the Newcastle biggest ever schedule including 19 total routes, of which 10 new exciting summer routes to the likes of Gran Canaria, Ibiza, and Paphos. Ryanair will operate over 130 weekly flights for Summer 2022 (over 40 more than pre-pandemic Summer 2019) to give Newcastle’s holiday makers an abundance of choice to top European destinations in Italy, Spain and England whilst also giving UK tourism a much-needed boost after two lost Summers.

10 new routes for Summer 2022:



Gran Canaria








Ryanair aims to become carbon neutral by 2050

Ryanair has announced its decarbonization strategy – Pathway to Net Zero. Developed to reduce its carbon emissions and the impact of its operations on the environment, this strategy outlines four core strategic pillars underpinning the airline’s ambitious goal of net carbon zero by 2050:

  • 34% decarbonization through the increased use of sustainable aviation fuels (SAF)
  • 32% decarbonization through technological & operational improvements
  • 24% decarbonization through offsetting & other economic measures
  • 10% decarbonization through the introduction of better Air Traffic Management

With more than 1/3 of its decarbonization to come from the increased use of SAF, Ryanair is working with the EU and fuel suppliers to accelerate supply of SAF. As part of this, Ryanair established the Ryanair Sustainable Aviation Research Centre in partnership with Trinity College Dublin. This partnership will deliver research in SAF, Zero Carbon Aircraft Propulsion Systems and Noise Mapping.

Ryanair will continue to invest in new technology, aircraft, as underpinned by its $22bn commitment to purchase 210 Boeing 737-8200 ‘Gamechanger’ aircraft. To date the airline has taken delivery of 55 ‘Gamechanger’ aircraft, which carry 4% more passengers, reduces fuel consumption & CO2 by 16% and lowers noise emissions by 40%.

The final leg of Ryanair’s Pathway to Net Zero will come from a combination of offsetting measures, through carbon capture offset projects and the support of key govt policies and reforms, such as the introduction of the Single European Sky ATM Research (SESAR) initiative. If successfully introduced by the European Commission, the SESAR would deliver a standardized and more efficient air traffic management process, delivering a significant & immediate 10% reduction in European aviation carbon emissions.