- November 6, 2023
- Posted by: legaleseblogger
- Category: Related News
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## Ryanair to Pay Shareholder Dividends for the First Time
Ryanair, the low-cost airline, has announced that it will pay shareholder dividends worth Ôé¼400m (┬ú346.6m). This marks the first time in the company’s history that it has issued such payments to its shareholders. The dividends will be distributed in February and September next year.
## Record Fares and Surge in Passenger Numbers
Ryanair has reported a surge in fares and a record number of passengers flying with the airline over the summer. Compared to the previous year, the average fare rose by 24% to Ôé¼58 (┬ú50.27) for the first half of the 2023/24 financial year. The increase in fares surpassed the CEO’s earlier estimation of a maximum 20% increase. Ryanair’s total revenue for the six months to the end of September amounted to Ôé¼8.58bn (┬ú7.43bn). Moreover, the airline witnessed strong Easter and summer demand, leading to over 105 million passengers flying with them during this period.
## Growth Plans and Profit Forecasts
Ryanair, which is currently Europe’s largest airline by passenger numbers, aims to grow its annual passenger numbers to 300 million in the next 10 years. Furthermore, the company has forecasted record profits by the end of the current financial year in March. Ryanair anticipates an after-tax profit between Ôé¼1.85bn (┬ú1.6bn) and Ôé¼2.05bn (┬ú1.77bn), surpassing the previous record set in 2018 of Ôé¼1.45bn (┬ú1.25bn).
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