By Anthony O. Goriainoff

Ryanair Holdings said net profit for the first half of fiscal 2024 rose as traffic grew 11% to 105.4 million passengers and that it will pay a dividend of 400 million euros ($429.3 million) in 2024.

The airline said that for the period ended Sept. 30, net profit was EUR2.18 billion, up from EUR1.37 billion the year before.

Revenue was EUR8.58 billion compared with EUR6.62 billion the year before.

The Irish low-cost carrier said that it will pay an interim and a final dividend of EUR200 million each in February and in September respectively.

"The board... will retain the flexibility to consider, when or if appropriate, the return of surplus cash to shareholders through special dividends and/or share buybacks," it said.

The airline backed its traffic guidance for the fiscal year of 183.5 million passengers but said this was dependent on Boeing meeting delivery commitments, and that it expects pre-exceptional profit after tax for fiscal 2024 to be in the EUR1.85 billion to EUR2.05 billion range. It added that guidance was highly dependent on the absence of unforeseen events such as the development of the situation in Ukraine and Gaza.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

November 06, 2023 01:56 ET (06:56 GMT)

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