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Ryanair (RYAAY) Expands Summer Schedule Despite Spike in COVID-19

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Ryanair Holdings plc RYAAY announced an expanded U.K. summer 2021 schedule despite concerns over rising coronavirus cases in many European countries. The airline attributed this decision to the successful vaccine rollout program in the U.K., based on which it expects government to allow travel during the summers.

Ryanair’s CEO Michael O’Leary, stated, “The U.K. government has implemented a very successful vaccine rollout program, and is on track for a re-opening of EU short-haul travel this summer.” O’Leary told Sky News that he anticipates countries across Europe, including the UK, to stop "locking people down" from June despite media "hysteria" over whether travel will be allowed during the summer holidays.

As part of the expanded schedule, Ryanair will operate more than 2,300 weekly flights across 480 routes. The airline will add 26 new routes to popular holiday destinations in France, Greece, Italy, Portugal and Spain.

Ryanair Holdings PLC Price

Ryanair Holdings PLC Price
Ryanair Holdings PLC Price

Ryanair Holdings PLC price | Ryanair Holdings PLC Quote

The announcement comes close on the heels of a new coronavirus law which states that anyone who leaves England to travel out of the country without a reasonable reason (such as work, medical or compassionate grounds, and attending weddings and funerals) will be fined 5,000 pounds. The new law, set to go into effect next week, could last until the end of June.

Under the government’s lockdown-easing roadmap, foreign travel was expected to potentially resume from May 17 onward. However, prime minister Boris Johnson’s recent warning that the U.K. could soon be hit with a third wave of coronavirus, makes the timing of the resumption of international travel blurry.

Meanwhile, Johnson said that international leisure travel restrictions will only be eased after a review in April.

Zacks Rank & Key Picks

Ryanair carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are ArcBest Corp. ARCB, Saia, Inc. SAIA and Navios Maritime Partners LP NMM. While Navios Maritime sports a Zacks Rank #1 (Strong Buy), ArcBest and Saia carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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Ryanair Holdings PLC (RYAAY) : Free Stock Analysis Report

ArcBest Corporation (ARCB) : Free Stock Analysis Report

Saia, Inc. (SAIA) : Free Stock Analysis Report

Navios Maritime Partners LP (NMM) : Free Stock Analysis Report

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