By Michael Susin

 

Ryanair Holdings PLC said on late Wednesday that it has increased its fiscal 2023 guidance after stronger-than-expected peak in Christmas and New Year's traffic and fares.

The Irish low-cost carrier said that it currently expects pre-exceptional profit after tax for the year ending March 31 to be in the 1.325 billion euros to 1.425 billion euros range ($1.40 billion and $1.50 billion). This compares with the previous guidance range of 1 billion euros to 1.20 billion euros.

The company said that it has benefited from a strong pent-up travel demand over the holiday season for the first time in three years.

It also expects report a stronger-than-expected exceptional profit after tax for the third quarter ended Dec. 31 of around 200 million euros.

Traffic guidance for the fiscal year remained unchanged at 168 million passengers.

However, Ryanair expects to be loss making in the fourth quarter due to the absence of Easter from March, and a recent softening in the U.K. outbound.

 

Write to Michael Susin at michael.susin@wsj.com

 

(END) Dow Jones Newswires

January 04, 2023 13:54 ET (18:54 GMT)

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