Per a Reuters report, Ryanair Holdings’ RYAAY CEO, Michael O'Leary, said that with strengthening bookings, the company is expecting summer fares to increase 7-9% from the pre-pandemic levels.
O'Leary said that it expects load factor (percentage of seats filled by passengers) to nearly reach pre-pandemic levels, to around 94%, in June. "And July, August, and September look very strong with higher load factors and also higher fares," he added.
Ryanair expects airport management groups to "iron out" staffing shortages through recruitments, as a result of which travelers should have an improved experience over the summer.
Ryanair Holdings PLC Price
Ryanair Holdings PLC price | Ryanair Holdings PLC Quote
While RYAAY seems optimistic about attracting substantial traffic during the summer travel period, its Spanish cabin crew recently warned of strike actions between late June and early July, potentially jeopardizing its summer travel plans.
O'Leary, however, said that any disruption caused by industrial action is likely to be "tiny and inconsequential". While saying that the proposed strike has "no support", he gave a heads up that there could be a small number of cancellations or delays.
Zacks Rank & Key Picks
Ryanair carries a Zacks Rank #4 (Sell).
Some better-ranked stocks within the broader Transportation sector are as follows:
Star Bulk Carriers SBLK carries a Zacks Rank #2 (Buy). The company's earnings have surpassed the Zacks Consensus Estimate in three of the preceding four quarters and missed once, the average surprise being 7.1%. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Shares of Star Bulk have gained more than 27% in a year.
Golar LNG Limited GLNG carries a Zacks Rank #2. The company has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in three of the preceding four quarters and missed once, the average surprise being 42.1%.
Shares of Golar LNG have rallied more than 69% in a year.
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