Ryanair Holdings plc released March traffic statistics as follows:
|MAR 2021||MAR 2022|
|Ryanair operated over 67,800 flights in March with an 87% load factor.|
|PRIOR MONTHS||GUESTS||LOAD FACTOR|
1 Dec, Jan & Feb traffic was badly affected by Omicron restrictions.
2 Mar traffic was impacted by the Russian invasion of Ukraine which caused 2,000 flights to/from Ukraine to be cancelled in March due to airspace closures.
In other news, the company updated its guidance going forward:
Ryanair Holdings plc briefed the market that it expects to report a pre-exceptional FY22 (yr. ending on March 31, 2022) net loss of between -€350m and -€400m (previously guided range of -€250m to -€450m). The Ryanair Group’s full-year traffic recovered strongly to over 97m (27.5m in FY21, but below pre-Covid traffic of 149m).
Ryanair’s balance sheet is one of the strongest in our sector with a BBB (stable) credit rating (S&P and Fitch). Year end (March 31) net debt dropped to €1.5 bn (prior year €2.3 bn), and c.90% of the Group’s fleet of B737 aircraft are unencumbered.
Since our last market update on 31 Jan., Ryanair has increased FY23 (yr. ending on March 31, 2023) fuel hedging to 80% cover (c.65% jet swaps at $630 and 15% caps at $775 per metric ton). Almost 10% of Ryanair’s H1 FY24 fuel requirements are hedged at $760 (via jet swaps).
As this is a closed period, the Ryanair Group’s next market update will be on May 16 when we release FY22 results.
Top Copyright Photo: Ryanair (Malta Air) Boeing 737-8 (200) MAX 8 9H-VUW (msn 62338) BFI (Brian Worthington). Image: 957225.
Ryanair (Malta Air) aircraft slide show:
Ryanair (Malta Air) aircraft photo gallery: