Ryanair rebounds into profit as bookings soar

LONDON: Ireland’s Ryanair flew back into profit in the final three months of 2022 as travellers flocked to budget airlines during Europe’s cost-of-living crisis.Ryanair logged a profit after taxation of 211 million euros ($229 million) for the third quarter of its financial year, or three months to the end of December.That contrasted sharply with a net loss of 96 million euros last time around, it added in a results statement on Monday.Passenger numbers soared by almost a quarter to 38.4 million passengers. That marked a seven percent increase compared with late 2019, just before the Covid pandemic ravaged demand for aviation.The Dublin-based carrier enjoyed “strong Christmas/New Year traffic” in the reporting period, winning market share in key EU nations including Ireland, Italy, Poland and Spain.Monday’s news comes after British budget rival EasyJet last week hiked its annual profit forecast after record demand, as its customers also prioritised holidays and shrugged off sky-high in