RYA

1229 GMT - Ryanair is among the most mentioned topics across news items over the past 12 hours, according to Factiva data, after the Irish low-cost airline increased its fiscal 2023 guidance. The company said late Wednesday that it is expecting pre-exceptional after-tax profit for the year ending March 31 in the EUR1.325 billion-EUR1.425 billion range after benefiting from better-than-expected travel and fares over the Christmas and New Year period. Ryanair said it expects to report third-quarter after-tax profit of around EUR200 million later this month, which Davy Research analyst Stephen Furlong says would represent record profitability for the quarter. "We continue to believe that Ryanair's balance sheet, market position and cost advantage leave it very well-placed in this upgrade cycle," Furlong says. Stifel analysts Johannes Braun and Marc Zeck, however, take a more cautious view, assuming Ryanair's bumper third quarter was driven by prices. They point to Ryanair expecting to be loss-making in fiscal 4Q. "The negative new information here in particular is that not only the absence of Easter in the quarter is mentioned, but also for the first time a softening in demand on U.K. outbound and Irish routes in terms of traffic and pricing," they say. Dow Jones & Co. owns Factiva. (pierre.bertrand@wsj.com)

(END) Dow Jones Newswires

January 05, 2023 07:49 ET (12:49 GMT)

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