(Corrects paragraph 9 to say Ryanair expects to fly 165 million
passengers in year to March 2023 (not year to March 2022))
* Q3 loss of 96 mln euros vs poll forecast for 101 mln loss
* Outlook remains 'hugely uncertain'
* CFO says lower supply may push up summer fares
By Conor Humphries
DUBLIN, Jan 31 (Reuters) - Ryanair reported a loss
of 96 million euros ($107 million) for the final three months of
2021 but said it was hopeful that rivals' cuts to capacity may
help push prices up in the key summer season.
The result was in line with a consensus estimate of a 101
million euros loss in a company poll of analysts. The airline
lost 306 million euros in the same quarter of 2020 and made a
profit of 88 million in the last three months of 2019.
The Irish low-cost airline, Europe's largest by passenger
numbers, reiterated its forecast loss for its full financial
year, which ends on March 31, at between 250 million euros and
450 million euros.
Chief Executive Michael O'Leary said that while there had
been a "very strong bounce back" in bookings in recent weeks as
concerns about the Omicron variant began to fade, the outlook
remained hugely uncertain.
"While recent bookings have improved, following easing of
travel restrictions, the booking curve remains very late and
close-in, so Q4 traffic requires significant price stimulation
at lower prices," O'Leary said.
Rivals easyJet and Wizz have both said they
expect strong demand for summer holidays, but Wizz said excess
capacity in the coming months could weigh on profitability.
Ryanair Chief Financial Officer Neil Sorahan told Reuters in
an interview that the fact so many rivals were cutting capacity
compared to pre-COVID levels meant "there absolutely could be
upward pressure on fares."
He added that if Ryanair did need to cut fares to stimulate
demand, its relatively large fuel hedging position means it is
in a much better position than rivals to do so.
Ryanair reaffirmed its expectation that it would fly just
under 100 million passengers this financial year. O'Leary last
week said he expected to fly 165 million passengers in the 12
months to March 2023.
Ryanair is "nowhere close" to a new deal with Boeing on a
new order for 737 jets, Sorahan said.
The Irish airline in September abruptly ended talks with the
U.S. planemaker over an order of 737 MAX 10 jets worth tens of
billions of dollars because of differences over price but has
said it remains in contact with Boeing, its dominant supplier.
(Reporting by Conor Humphries; Editing by Edwina Gibbs)