BTN Europe presents an overview of business travel and MICE predictions for this year
ExCeL London - 22-23 June 2021
Ryanair says it plans to expand faster than previously predicted by raising its target for the number of passengers it will carry in the next few years.
The no-frills carrier was originally aiming to carry more than 100 million passengers per year by the financial year ending in March 2019, but this target was today (June 20) raised to 110 million passengers per year over the same period.
Ryanair currently carries just under 80 million passengers a year and the new target will require growth of between 5-7 per cent every year until 2019.
The move comes a day after Ryanair confirmed its order with Boeing for 175 new 737-800 aircraft at the Paris Air Show – this deal is worth $15.6 billion at list prices.
Ryanair also plans to give €1 billion back to shareholders over the next two years through a range of share buybacks and special dividends.
Chief executive Michael O’Leary said this growth would be fuelled by the 175 new 737s, which will increase Ryanair’s fleet to more than 400 aircraft.
“They provide Ryanair with the additional capacity to exploit substantial growth opportunities that now exist as many of Europe’s flag and regional airlines are restructuring and are reducing their short-haul operations,” added O’Leary.