Member Info for fatprofits

On the pre COVID prak price.

You have to marvel at how much value has been destroyed.

That appears incorrect - yes they will sell some older aircraft, however thave given a year by year estimate of how many aircraft they expect to operate - right out to 2033.

There's a very significant net increase - yes this will be

subject to some change.

Why ...is a very good question.

In yesterday's FY presentation, Ryanair deltail their

delivery schedule for the test of the decade.

What may be a bit concerning for the rest of the European sector is worhin 3 years they have huge increased aircraft capacity.

Someone is likely to suffer and given O'Leary commercial astuteness, that is unlikely to be Ryanair!.

Https://fortune.com/europe/2024/05/20/ryanairs-shares-up-2020-easyjet-down-ceo-michael-oleary-getting-right/

Following 2 rights issues you would hope there would be .. no debt.

Looks interesting...

Michael Ryan gave O'Leary 6 months to turn the loss

making Ryanair around, Michael Ryan wanted to close

down the business and O'Leary asked for a little extra time.

Ryan sent O'Leary too South West arlines to see how their

successful business was run and the rest is history.

Extraordinary achievement, whatever you think of O'Leary.

Where is everyone...

Tends to be overlooked.

That increased the share count by 15%.

And on that increased share count a 65% additional

increase in shares in 2021.

So, so comparison to pre pandamic, we. have over 80%

more shares in issue.

This needs to be accounted for shen looking at rhe ore pandamic SP.

Wrll for starters the UKX was circa 7k, so the increase in

the wider index needs fo be taken in yo account,

coupled with an early recovery from tne pandemic slump price

Lovely jubbley

65% approx more shares in issue following the last RI.

When zome posters look at the pre pandemic price,

they are bot factoring in the extra shares. EPS was battered as a result, But the future looks brighter

They raised £1.2 billion from the last capital raise.

They have net cash, largely as a result of increasing the share count.

And the great irony as it turns out, they could have

navigated the pandemic without the 2021 RI.

But, very easy to say this after the event and from the distant sidelines.

Great credit to Michael O'Leary - read it beautifully.

As mentioned over the years abd on the old RYA bb,

I much prefer Ryanair to EZJ.

The risk with Ryan atm is Boeing - i can still hold the

stock due to duel nationality. Had to give ii my Irish passport number.

Ryanair had a fantastic pandemic v EZJ

The value destruction with EZJ caused by the last deeply discounted RI, with the number of shares in issue exploding.

Aglos drive the short term price, it's an electronic order book.

That's all we need, expect lower levels then, eh

Easy after the event - pun intended,

This RI arguably caused huge longer term value destruction.

But we are where we are, etc and the pandemic coulhave lasted longer.

That last RI

Excuse the typos

That should have read ..EZJ is not a stock I would recommend to friends or family, due to share price volatility.