Low-cost carrier Ryanair on Monday reported its best-ever annual profit, as passenger and revenue growth offset sharply higher operating costs.
The Dublin-based firm said full-year profit after tax jumped 34% to 1.92 billion euros ($2.09 billion), and announced a 700-million-euro share buyback program.
Revenue rose 25% year-on-year to 13.44 billion euros as the airline served 184 million passengers, 23% more than before the Covid pandemic.
Ryanair Chief Financial Officer Neil Sorahan told CNBC's "Squawk Box Europe" Monday that its share buyback reflected a "very strong" balance sheet.
"Our priorities have been very much: restore the pay for our people after Covid, bring in pay increases, pay down the debt," he said.
Persons:
Neil Sorahan, CNBC's, we've, actualy
Organizations:
Ryanair, Revenue
Locations:
Dublin