Ryanair Sees Lower Short-Term Load Factors From OTA Site Flight Removals
By Ian Walker
Ryanair Holdings said that the removal of its flights from some online travel agent websites is likely to reduce short-term load factors but won't materially affect fiscal 2024 traffic or profit guidance.
The Irish low-cost carrier said Wednesday that its load factor--a measure of how full a plane is--in December was 91% compared with 92% for the same month a year earlier. It said the removal of flights from OTA sites accounted for a small fraction of bookings and were expected to reduce the load factor in December and January by 1% or 2%.
Ryanair added that the removal will also soften short-term yields but it plans to lower fares where necessary to encourage passengers to book directly.
The company has previously guided for pre-exceptional profit after tax for the year ending March 31 of between 1.85 billion euros and 2.05 billion euros ($2.02 billion and $2.24 billion), but that this was dependent developments in Ukraine and Gaza.
It has also said that the company expects to carry 183.5 million passengers for fiscal 2024, but this was dependent on Boeing meeting delivery commitments.
It said Wednesday that over 900 flights were cancelled in December due to the Israel-Hamas war.
Shares at 1130 GMT were down 74 European cents, or 4%, at EUR18.36, but are up 46% over the past 12 months.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
January 03, 2024 06:45 ET (11:45 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Small-Cap and Value Stocks Are Undervalued
-
Why We Expect the Job Market’s Slowdown to Renew in 2024
-
5 Undervalued Stocks to Buy to Play a Little Defense
-
Markets Brief: AI Leaders Excel In Earnings Season So Far
-
What History Tells Us About the Fed’s Next Move
-
What’s Happening In the Markets This Week
-
Alphabet’s New Dividend: What Investors Need to Know
-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
Amazon Earnings: AWS Growth Accelerates and Profit Margins Improve
-
SiriusXM Earnings: Decent Results With Plan for Technology and Content Investment to Drive Growth
-
Coca-Cola Earnings: Solid Volume On Innovation and Digital Engagement
-
Is Berkshire Hathaway a Buy Before the Annual Meeting?
-
Investment Opportunities in the Drug Distribution Industry
-
Why the End of Quantitative Tightening Matters
-
Eli Lilly Earnings: Strong Weight-Loss Drug Sales Expand Margins
-
After Earnings, Is Meta Stock a Buy, a Sell, or Fairly Valued?