Ryanair expects the growth in European airline capacity to be “constrained” over the next four years due to a backlog in aircraft deliveries.
The Ireland-based carrier said it was in a position to “further extend our market share gains” as competitors wait to receive new aircraft in the next few years. Ryanair is adding nearly 100 Boeing 737-200s to its fleet, which already stands at 558 aircraft, over the next three years.
Michael O’Leary, CEO of Ryanair Group, added that he expected further consolidation of European airlines in the next two to three years, citing Lufthansa’s recent deal to acquire ITA and the planned sale of TAP by Portugal’s government.
O’Leary made his comments as Ryanair announced net profit of €663 million for the quarter up to 30 June – an increase of 290 per cent on the same period in 2022 when Russia’s invasion of Ukraine negatively impacted traffic and fares.
Group revenue rose by 40 per cent to €3.65 billion over the same period as Ryanair’s passenger numbers reached 50.4 million during the quarter.
Ryanair said that demand for the peak summer season was “robust” with fares higher than during summer 2022, although this upward pricing trend “seems weaker” in the current quarter than earlier in the year.
“We are operating our largest ever summer schedule - over 3,200 flights and up to 600,000 passengers daily,” added O’Leary. “We have opened three new bases (Belfast, Lanzarote and Tenerife) and over 190 new routes, further growing our number one or number two share in the Italian, Polish, Spanish and UK markets.”
The airline repeated its call for “urgent reform” of Europe’s air traffic management system, including the protection of overflights during periods when air traffic controllers go on strike.
“Over the past six months, French ATC alone has held 60 days of strikes, during which the French government used minimum service laws to protect local and domestic flights while disproportionately cancelling overflights,” added O’Leary.
“We, and our customers, call on the EC president, Ursula von der Leyen, to protect the single market for air travel and minimise the impact of ATC strikes on EU citizens (while respecting the right of ATC unions to strike) by insisting that national government protect overflights, as is already the case in Greece, Italy and Spain.”