Ryanair Forecasts To Breeze Past Monthly Passenger Record In August: Report
Portfolio Pulse from Nabaparna Bhattacharya
Ryanair Holdings Plc (NASDAQ:RYAAY) expects its August traffic to slightly exceed the record 18.7 million passengers it flew in July. The company's bookings for September and October are also expected to meet forecasts. However, Ryanair's FY24 traffic is expected to be around 183.5 million, slower than the earlier guidance of 185 million, due to delivery delays in spring and autumn 2023. RYAAY shares are trading lower by 0.74% to $99.12 premarket on the last check Tuesday.
August 15, 2023 | 12:01 pm
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Ryanair expects to exceed its passenger record in August and meet its booking forecasts for September and October. However, FY24 traffic is expected to be slower than previously forecasted due to delivery delays. RYAAY shares are currently down.
The news directly pertains to Ryanair and its operations. The expected increase in August traffic and meeting of booking forecasts for September and October are positive indicators. However, the slower than expected FY24 traffic due to delivery delays and the current decrease in share price may negatively impact the stock in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100