Ryanair Holdings plc today (4 Jan.) said it expects to report a stronger than expected Q3 (end 31 Dec.) PAT of close to €200m.  Strong pent-up travel demand over the holiday season for the first time in 3 years, with no adverse impact from Covid or the war in Ukraine, stimulated stronger than expected peak Christmas/New Year traffic and fares.

FY23 traffic guidance of 168m remains unchanged.  Ryanair expects Q4 to be loss making due to the absence of Easter from March, and a recent softening in UK outbound and Irish – Prov. UK traffic and pricing.

As a result of these recent developments, Ryanair has raised its FY23 PAT guidance (pre-exceptionals) from a current range of €1.00bn – €1.20bn to a new range of €1.325bn – €1.425bn.  This guidance remains heavily dependent upon avoiding adverse events in Q4 (such as Covid or the war in Ukraine).

As this is a closed period, the Ryanair Group’s next market update will take place on Mon. 30 Jan. when the Group releases its Q3 results.

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