Ryanair reports €355m annual loss and plans to hike prices

Airline anticipates summer fares will peak above pre-pandemic levels but current bookings are depressed due to impact of Covid-19 and Russian invasion

Traffic recovered to 97.1 million for the 2022 financial year but is still 35 per cent lower than pre-pandemic levels. Picture: Jörg Carstensen

Ryanair reported total losses of €355 million for the 2022 financial year, a significant narrowing on its losses for the same period in 2021 of more than €1 billion, and said that it was “cautiously optimistic” that it could achieve some recovery to pre-Covid flight prices this summer.

Traffic recovered to 97.1 million, up from 27.5 million in 2021 but was still 35 per cent below pre-pandemic levels.

Revenue increased almost 200 per cent to ...