Ryanair on Monday reported a near record profit of 1.43 billion euros ($1.57 billion) for the year ending March 2021. The Irish airline, Europe’s largest by passenger numbers, flew a record 168.6 million passengers in the same period, beating its previous annual record of 149 million. CEO Michael O’Leary said the large backlog of aircraft deliveries is likely to constrain capacity growth in Europe for at least four more years, creating growth opportunities for Ryanair. The low cost carrier expects to grow traffic to 185 million this fiscal year, although recent Boeing delivery delays may push some of that growth into the lower yielding second half. Ryanair made a loss of 355 million euros in the previous pandemic-hit financial year and the turnaround came close to topping the record 1.45 billion euro profit it made in the year to March 31, 2018.
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