Last checked at 4 Jan 2023 18:16
RYANAIR EXPECTS TO REPORT STRONGER Q3.
RAISES FY PROFIT GUIDANCE FROM €1.00BN - €1.20BN
TO A NEW RANGE OF €1.325BN - €1.425BN.
Ryanair Holdings plc today (4 Jan.) said it expects to report a stronger than expected Q3 (end 31 Dec.) PAT of close to €200m. Strong pent-up travel demand over the holiday season for the first time in 3 years, with no adverse impact from Covid or the war in Ukraine, stimulated stronger than expected peak Christmas/New Year traffic and fares.
FY23 traffic guidance of 168m remains unchanged. Ryanair expects Q4 to be loss making due to the absence of Easter from March, and a recent softening in UK outbound and Irish - Prov. UK traffic and pricing.
As a result of these recent developments, Ryanair has raised its FY23 PAT guidance (pre-exceptionals) from a current range of €1.00bn - €1.20bn to a new range of €1.325bn - €1.425bn. This guidance remains heavily dependent upon avoiding adverse events in Q4 (such as Covid or the war in Ukraine).
As this is a closed period, the Ryanair Group's next market update will take place on Mon. 30 Jan. when the Group releases its Q3 results.
ENDS.
This announcement contains inside information
For further information
please contact: Neil Sorahan Piaras Kelly
Ryanair Holdings plc Edelman
www.ryanair.com
Tel: 353-1-9451212 Tel: 353-1- 5921330
Certain of the information included in this release is forward looking and is subject to important risks and uncertainties that could cause actual results to differ materially. It is not reasonably possible to itemise all of the many factors and specific events that could affect the outlook and results of an airline operating in the European economy. Among the factors that are subject to change and could significantly impact Ryanair's expected results are the airline pricing environment, fuel costs, competition from new and existing carriers, market prices for the replacement of aircraft, costs associated with environmental, safety and security measures, the availability of appropriate insurance cover, actions of the Irish, U.K., European Union ("EU") and other governments and their respective regulatory agencies, post-Brexit uncertainties, weather related disruptions, ATC strikes and staffing related disruptions, delays in the delivery of contracted aircraft, fluctuations in currency exchange rates and interest rates, airport access and charges, labour relations, the economic environment of the airline industry, the general economic environment in Ireland, the U.K. and Continental Europe, the general willingness of passengers to travel and other economics, social and political factors, global pandemics such as Covid-19 and unforeseen security events.