Ryanair's 1st Half Performance Boosts European Airline Shares
06 Novembro 2023 - 6:43AM
Dow Jones News
By Anthony O. Goriainoff
Ryanair Holdings shares rose in early trade Monday after it
reported a 59% rise in net profit for the first half of fiscal 2024
following a record summer and declared a first-time dividend,
sending shares in other European airlines higher.
The budget airline's shares at 0901 GMT were up 93 European
cents, or 6.1%, at EUR16.13.
Shares in EasyJet were up 3.35% at 404.30 pence, with Wizz Air
up 2.3% at 1,868 pence. International Consolidated Airlines rose 1%
at 151.95 pence, with Air France-KLM up 2% at EUR12.00 and
Lufthansa up 0.2% at EUR7.55.
Ryanair reported a net profit for the half year ended Sept. 30
of 2.18 billion euros ($2.34 billion), up from EUR1.37 billion the
year before, as traffic grew 11% to 105.4 million passengers on a
strong Easter period and record summer demand.
The airline also said average fares in the period rose 24% to
around EUR58 with ancillary revenue up 14% to EUR23.70 per
passenger.
For the year ahead Ryanair said it expects to report net profit
of between EUR1.85 billion and EUR2.05 billion, assuming modest
losses over the second-half winter period.
The company reiterated that it expects passenger numbers to grow
9% this year to 183.5 million, but said this depends on Boeing
meeting aircraft delivery targets given continuing delays with
fuselage supplier Spirit.
The airline said it is working with Boeing to minimize these
delays ahead of the peak holiday season but that up to 10 of its 57
contracted deliveries expected this winter season may be delayed to
next winter.
Ryanair has declared a dividend of 35 European cents a share for
this year with the interim payout due in February and then a final
in September. Going forward, the board plans to declare 25% of
prior-year net profit as a dividend each year.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
November 06, 2023 04:28 ET (09:28 GMT)
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