Ryanair Upgrades FY23 Profit Guidance on Better-Than-Expected Holiday Traffic, Fares
04 Gennaio 2023 - 08:09PM
Dow Jones News
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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