Ryanair ends Q1 on a strong note with €663 million profit after tax

Ryanair Holdings reported Q1, 2023 profit of €663 million citing strong Easter, the extra UK (Coronation) public holiday in May 2023. The Group reported €170 million profit after tax last year due to Russia’s invasion of Ukraine in February 2022 damaging last year’s Q1 traffic and fares. The airline’s Q1 scheduled revenues increased 57% to €2.47bn, traffic grew 11% to 50.4 million and average fares rose 42% to €49 thanks to a strong Easter and the coronation holiday in UK. The Group’s ancillary revenue increased 15% to €1.18bn (c.€23.30 per passenger) while the total Q1 FY23-24 revenue rose 40% to