Ryanair reached 200 million passengers last year "despite" Boeing delays, now it's charting a course to increase fares.

Ryanair on Monday reported strong demand across Europe and projected that fares would rebound to recover much of the decline that dented profit last year as consumers struggled with high interest rates.

The drop in earnings was in line with analysts’ expectations, and reflected passenger numbers that grew 9% but who paid 7% lower average fares.