Ryanair Q3 Net Loss Narrows On Strong Traffic; Sees FY22 Loss Within Wider Than Normal Range

Low fares airline Ryanair Holdings Plc. (RYA.L,RYAAY) reported Monday that its third-quarter net loss was 96 million euros as Omicron severely damaged peak Christmas & New Year bookings and fares. However, the loss was narrower than last year's loss of 321 million euros.

Revenue surged 331 percent to 1.47 billion euros from prior year's 0.34 billion euros. Scheduled revenues increased 345 percent to 0.79 billion euros as traffic recovered strongly.

The company said its third-quarter traffic rebounded strongly by 286 percent to 31.1 million customers from 8.1 million customers last year.

Load Factor also improved 14 percentage points to 84 percent from 70 percent percent a year ago.

Looking ahead, Ryanair said its full year traffic forecast remains unchanged at 'just under' 100 million passengers, but due to Covid uncertainty the FY22 net loss guidance remains within a wider than normal range of 250 million euros to 450 million euros.

The company previously expected FY22 loss between 100 million euros to 200 million euros.

The company said the outturn is hugely sensitive to any further positive or negative Covid news flow.

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