Breaking Down SG&A Expenses: Ryanair Holdings plc vs Southwest Airlines Co.

A Tale of Two Airlines: SG&A Expenses Over Time

In the competitive skies of the airline industry, managing costs is crucial for profitability. This analysis delves into the Selling, General, and Administrative (SG&A) expenses of Ryanair Holdings plc and Southwest Airlines Co. from 2014 to 2023. Ryanair, known for its low-cost model, saw its SG&A expenses grow by approximately 292% over the decade, peaking in 2023. In contrast, Southwest Airlines, a leader in the U.S. market, experienced a more volatile trend, with expenses surging by nearly 1,830% from 2014 to 2023, reflecting strategic expansions and market challenges.

Interestingly, 2020 marked a dip for both airlines, likely due to the global pandemic's impact on operations. By 2023, Southwest's expenses were nearly six times higher than Ryanair's, highlighting differing business strategies and market conditions. The data for 2024 is incomplete, offering a glimpse into the ongoing financial narratives of these aviation giants.