Ryanair showcased a strong performance over the holiday season, raising its full-year expected profits
Better-than-expected forward bookings for January to April come just a month after Ryanair had to cut its summer capacity as a result of further delays in returning Boeing’s grounded 737 Max aircraft to service.
Ryanair said forward bookings for January to April were running 1% ahead of this time last year, which would mean slightly better-than-expected average fourth quarter fares. That forecast was based on Ryanair receiving 10 MAX aircraft in time for the summer season. It previously cut expectations to 20 from the 60 originally scheduled and chief executive Michael O’Leary has since said it may need to wait until October for the first MAX plane.Analysts at Bernstein said Ryanair could be the first signal of a recovery in airline sector profits.
“EU airlines, and especially short haul carriers, should make hay while the sun shines. With the Max still grounded and capacity growth at lower levels, this may indicate a better yield environment through winter,” Bernstein said in a note.
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