Ryanair sees demand start to take off as traffic numbers tick higher

(Sharecast News) - Ryanair carried 1m passengers on more than 8,000 flights in April, the low cost carrier confirmed on Wednesday.
The Irish airline saw traffic improve from just 0.04m in April 2020, when the first national lockdown was in full effect and borders were closed. It was also an improvement on the 0.5m recorded in February and March 2021.

In April 2019, however, Ryanair carried 13.5m passengers.

The rolling annual was 28.5m, compared to 135.1m this time last year, while the load factor was 67%.

The update was broadly line with market expectations, and by 1115 GMT, the shares were largely unchanged at €16.58.

Alexander Paterson, analyst at Peel Hunt, said Ryanair's ongoing recovery was in part dependent on travel restrictions and testing requirements.

"Our 2022 full-year forecasts assume a doubling of passengers to 2m in May and then 5m in June, and rely on a relaxation of travel restrictions and clarity on any requirements for testing or isolation periods," he noted. "This has been slow to be announced, and it is possible that the recovery could be delayed by a few weeks beyond what we are assuming."

Peel Hunt has a 'hold' recommendation on the airline, and a target price of €16.30.