Ryanair rebounds to near-record profit as summer bookings soar

Europe's largest airline says it is optimistic it will make even more this year after ordering more aircraft

Ryanair has bounced back to a near-record 1.4bn (1.2bn) profit last year and expects to better that in 2023, fuelled by a summer boom in which the low-cost airline will carry a record number of passengers.

Europe's largest airline swung back to profit in the year to the end of March after reporting a 355m loss in the previous year. The company, led by the chief executive, Michael O'Leary, said it was cautiously optimistic that it will increase profits again this year, which could result in it topping the record 1.45bn Ryanair made in 2018.