Ryanair: ups full-year outlook on strong Holiday bookings
(CercleFinance.com) - Irish airline Ryanair on Friday raised its full-year outlook, due to a stronger than expected Christmas and New Year travel period.
Europe's largest low-cost carrier now expects net profit of between 950 million - 1.05 billion euros for the year to March 2020, versus an earlier projection of 800 million - 900 million euros, it said.
According to analysts at Liberum, the consensus was slightly above the midpoint of the previous range provided by the group (860 million euros).
Ryanair said that the Christmas and New Year travel period was characterised by higher than expected close-in bookings at better-than-expected yields.
In a research note issued this morning, Liberum analysts said that the encouraging demand/supply balance could continue.
"The demise of Thomas Cook (and other smaller airlines) has been positive for the industry demand/supply balance. The grounding of the Boeing 737 MAX has also removed some capacity," the broker said.
Liberum - which has a "buy" rating on the stock - said that it has raised its target price from 12.5 euros to 19 euros.
Ryanair plans to release its third-quarter results on 3 February.
Following this update, Ryanair shares were up 6.3% at 16.2 euros on the London Stock Exchange.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
Europe's largest low-cost carrier now expects net profit of between 950 million - 1.05 billion euros for the year to March 2020, versus an earlier projection of 800 million - 900 million euros, it said.
According to analysts at Liberum, the consensus was slightly above the midpoint of the previous range provided by the group (860 million euros).
Ryanair said that the Christmas and New Year travel period was characterised by higher than expected close-in bookings at better-than-expected yields.
In a research note issued this morning, Liberum analysts said that the encouraging demand/supply balance could continue.
"The demise of Thomas Cook (and other smaller airlines) has been positive for the industry demand/supply balance. The grounding of the Boeing 737 MAX has also removed some capacity," the broker said.
Liberum - which has a "buy" rating on the stock - said that it has raised its target price from 12.5 euros to 19 euros.
Ryanair plans to release its third-quarter results on 3 February.
Following this update, Ryanair shares were up 6.3% at 16.2 euros on the London Stock Exchange.
Copyright (c) 2020 CercleFinance.com. All rights reserved.