In the financial year that ended on the 31st of March, Ryanair transported 183.7 million passengers, meeting the updated forecast for the airline’s fiscal year. Initially, the Ireland-based company had set its sights on a 185 million passenger target for its 2023/24 financial year. However, this figure was then revised to 183.5 million during the last fall due to Boeing’s delayed aircraft delivery.
On Wednesday, Ryanair reported that they had exceeded expectations by carrying 183.7 million passengers over the year, a 9% increase from the 168.6 million passengers who flew with them in the preceding financial year. Throughout this financial year, they were able to fill 94% of the seats in their aircraft, a slight rise from the 93% achieved the year before.
Within March alone, there was an 8% rise in passenger numbers from 12.6 million in March 2023 to 13.6 million, with a 93% seat occupancy rate in both months.
Further aircraft delivery delays from Boeing forced Ryanair to adjust routes within its network, impacting flights from Dublin Airport. It prompted the airline to lower their passenger forecast for the current financial year to be between 198 and 200 million from their original 205 million estimate.
Ryanair was anticipating the delivery of 57 B737-Max8200 jets from Boeing this year. However, persistent hitches at the US manufacturer led them to revise the final figure down to 40 planes. A mid-air door mishap on an Alaskan Airlines B737 Max 9, a model not used by European carriers, exacerbated Boeing’s production issues.
Expected grounding of Airbus planes for engine checks and Boeing’s production difficulties are likely to cause a surge in European airfares this summer. Alongside these challenges, the growing travel demand during the peak holiday period further exacerbates the problem.
Recently, Boeing’s management upheaval saw the company announcing that CEO Dave Calhoun would retire at the end of 2024 to address the prominent commercial jet manufacturer’s ongoing issues.