Ryanair Holdings RYAAY posted bland traffic numbers for July, primarily due to weak air travel demand stemming from the COVID-19 pandemic. This Irish carrier reported a 70% year-over-year plunge in July traffic to 4.4 million passengers.
Ryanair operated approximately 40% of the normal July schedule with a load factor (% of seats filled with passengers) of 72%. On a rolling annual basis, total traffic at Ryanair (including the LaudaMotion unit) declined 35% to 96.8 million.
Ryanair Holdings PLC Price
Ryanair Holdings PLC price | Ryanair Holdings PLC Quote
Apart from the traffic results, Ryanair was in the news recently when it reported first-quarter fiscal 2021 (ended Jun 30, 2020) financials. The company incurred a loss of 93 cents per share in the first quarter of fiscal 2021 (ended Jun 30, 2020). As was the case with the traffic report, dismal air-travel demand hurt quarterly results. Notably, the carrier regarded the fiscal first-quarter as the most challenging in its 35 years of history with EU governments’ travel restrictions and lockdowns across several nations. More than 99% of the airline’s fleet was grounded from mid-March to June-end. Quarterly revenues of $137.8 million plunged 94.7% year over year due to massive decline in traffic.
Ryanair flying schedules are expected to increase in the coming months, with the airline hoping to operate 60% of the usual schedule in August and 70% in September.
Zacks Rank & Key Picks
Ryanair, currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Better-ranked stocks in the Zacks Transportation sector are C.H. Robinson Worldwide, Inc. CHRW, Werner Enterprises, Inc. WERN and United Parcel Service, Inc. UPS, all sporting a Zacks Rank #1.
Long-term earnings (three to five years) growth rate for C.H. Robinson, Werner and United Parcel is estimated at 9%, 8.5% and 7.7%, respectively.
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