Ryanair sets an ambitious target of 300 million passengers a year! “We’ll wipe the floor with the other airlines”
Ryanair recently announced its impressive financial performance, marking their second best result since 2018 with a net profit of 1.43 billion euros. In addition to this achievement, the airline disclosed their ambitious plans for the future, revealing that their substantial order for 300 Boeing 737 MAX 10s will empower them to cater to an astounding 300 million annual passengers by 2034.
In their recently published financial report covering the period from March 31, 2022, to March 31, 2023, Ryanair shared some impressive figures. The Irish carrier reported a full-year profit of 1.43 billion euros, slightly surpassing the forecasted amount of EUR 1.425 billion euros for the same 12-month period. This marks a significant improvement from the previous year, when Ryanair faced a loss of 355 million euros, and only slightly lower than their 2018 record high of 1.45 billion euros.
The report also highlighted Ryanair’s remarkable growth in passenger numbers. During the year ending in March 2023, they successfully carried a total of 168.6 million passengers, an impressive increase of 73.8% compared to the previous year and a 13% growth compared to the pre-pandemic levels of 2019. Furthermore, in their strategy for the next decade, the airline boldly declared their goal of serving 300 million passengers by 2034.
In an interview to the Financial Times, Ryanair CEO Michael O’Leary expressed his confidence
“I think the thesis that there is no more growth in Europe and that the continent is completely exhausted is wrong. Until we do something stupid – which is a daily challenge in this industry – we will continue to wipe the floor with every other airline in Europe.”
During the presentation where the company’s future plans for the next decade were discussed, Ryanair provided specific growth targets for each year. Their aim is to serve 230 million passengers by 2027, 250 million by 2030, and ultimately reach the ambitious milestone of 300 million passengers in 2034.
To achieve these goals, Ryanair has placed a substantial order for 300 new Boeing 737 MAX 10 aircraft, which are to be delivered between 2027 and 2033. This massive investment will not only replace their oldest planes but also expand their fleet. With each plane accommodating 228 seats, a 21% increase compared to their current Boeing 737-800 NG models, the 300 million passengers mark has become a realistic target.
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