Ryanair reports near-record FY profit of over €1.4 billion

Despite a fourth quarter (Q4) loss of €154 million. Ryanair reported a 2023 financial year (FY 2023) profit of €1.43bn, close to the company record set in 2018 and a roughly €1.8bn swing to the black compared to FY 2022. Earnings per share of €1.16 came on the back of almost €10.9bn in revenue and despite operating costs going up 75% year-on-year to €9.2bn, with fuel up 113% to €3.9bn. The Dublin-headquartered airline reported €4.7bn gross cash by the end of March 2023, with net cash at €0.56bn, up from the €1.45bn net debt reported at the end of FY