Ryanair recorded a net profit of 2,190 million euros in the first nine months of its fiscal year, which ended on December 31, which represents an increase of 39% compared to the same period of the previous year, as reported this Monday by the company.

The firm posted a net profit of 15 million euros in the third quarter of its fiscal year, 93% less than the 211 million it recorded in the same period of the previous year, due to the fact that the increase in fuel costs offset the increase in income.

The company’s revenue grew by 26% in the first nine months of its fiscal year, to €11.27 billion, while operating costs increased by 25%, to €8.88 billion.

The CEO of Ryanair, Michael O’Leary, has highlighted that the firm continues to call for an “urgent reform of the ineffective” European air traffic control system, which would mean a “more significant” environmental improvement in air transport in the European Union. (EU).

In this sense, he highlighted that, “unfortunately, the European Commission (EC) has not done anything about it, which is why it once again asks its president, Ursula von der Leyen, to defend the single air transport market by protecting 100 % of overflights during strikes.

For its part, Ryanair has reduced its net profit forecasts for this year to a range of between 1,850 and 1,950 million euros, which was previously between 1,850 and 2,050 million euros.

In this sense, he explained that this forecast and the result for the entire year “depend largely on avoiding unforeseen adverse events in the fourth quarter, such as the war in Ukraine, the conflict between Israel and Hamas, and new delays in Boeing deliveries.

The firm will pay an interim dividend of 0.175 euros per share on February 28, as announced last November.

The firm has detailed that traffic grew by 7% in its third fiscal quarter, up to 41.4 million, while average fares rose by 13%, above 42 euros, thanks to the “good performance of flights in the middle October and the travel peaks at Christmas and New Year,” according to Ryanair.

However, the company explained that cargo and fares were lower than expected due to the “sudden withdrawal of many pirate OTAs from Ryanair flights in early December.”

The company has detailed that the former CEO of the Italian firm ENAV has joined the board of directors of Ryanair as a non-executive director, effective as of February 1.

He has also stated that both Louise Phelan and Michael Cawley will not stand for re-election at the general meeting of shareholders, which will be held in September, and that they will leave the board at that time.

For its part, the company has appointed Róisín Brennan as a ‘senior’ independent director as of April 1.