Ryanair: shares take off after strong quarterly profit
(CercleFinance.com) - Ryanair shares have taken off on Monday morning, up almost 5%, after the Irish airline returned to profit in the past quarter, boosted by better-than-expected Christmas and New Year trading.
This morning Europe's biggest low-cost carrier reported third-quarter profit of 88 million euros, compared to a 66 million euros loss in the same quarter last year.
Quarterly sales grew 21% to 1.9 billion euros, thanks to better-than-expected Christmas and New Year bookings, at higher fares. Traffic grew 6% to 36 million passengers, the group said.
"The performance was even stronger than we had forecast," analysts at Liberum commented in a reaction note.
The airline did not change its full-year guidance however, which it last raised on 10 January. Ryanair said it still expects full-year profit after tax to be in a range of 950 million and 1.05 billion euros.
However, due to the delay in deliveries of the group's first Boeing 737-MAX aircraft, Ryanair has postponed its 200-million passenger target by one or two years.
Investors cheered the report, yet, with Ryanair shares trading up 4.7% at 15.5 euros in morning trading on the London Stock Exchange.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
This morning Europe's biggest low-cost carrier reported third-quarter profit of 88 million euros, compared to a 66 million euros loss in the same quarter last year.
Quarterly sales grew 21% to 1.9 billion euros, thanks to better-than-expected Christmas and New Year bookings, at higher fares. Traffic grew 6% to 36 million passengers, the group said.
"The performance was even stronger than we had forecast," analysts at Liberum commented in a reaction note.
The airline did not change its full-year guidance however, which it last raised on 10 January. Ryanair said it still expects full-year profit after tax to be in a range of 950 million and 1.05 billion euros.
However, due to the delay in deliveries of the group's first Boeing 737-MAX aircraft, Ryanair has postponed its 200-million passenger target by one or two years.
Investors cheered the report, yet, with Ryanair shares trading up 4.7% at 15.5 euros in morning trading on the London Stock Exchange.
Copyright (c) 2020 CercleFinance.com. All rights reserved.