Ryanair posts record Christmas quarter, sees 'very robust' summer demand

Ryanair connected Monday posted its largest after-tax nett for the October-December 4th and said bookings for Easter and summertime flights successful caller weeks were "very robust", boosted by request from Asian travelers and a beardown U.S. dollar.

"Bookings are showing nary signs of recession astatine this constituent successful time," Chief Financial Officer Neil Sorahan told Reuters.

"We had grounds bookings successful week 2 and week 3 of January, precise robust request into Easter and the summertime without fare stimulation," helium said.

The Irish airline, Europe's largest by rider numbers, said it had earned 211 cardinal euros ($229.40 million) successful the 3 months ended Dec. 31, the 3rd 4th of its fiscal year.

The nett numbers compared with a forecast of 200 cardinal euros successful a institution canvass of analysts and its erstwhile grounds of 106 cardinal euros successful the last 3 months of 2017.

Ryanair reiterated its forecast of an after-tax nett of betwixt 1.325 cardinal and 1.425 cardinal euros for the twelvemonth done March 31. Sorahan said helium was "very comfortable" with that range.

He declined to remark connected whether fares were apt to emergence by a high-single-digit percent successful the coming summer, saying lone that helium was "encouraged by bookings astatine this point."

The hose successful January upgraded an earlier forecast of 1 billion-1.2 cardinal euros, citing pent-up request for question aft COVID-19 lockdowns were lifted worldwide.

"With Asian tourists present returning and a beardown U.S. dollar encouraging Americans to research Europe, we're seeing robust demand," Chief Executive Officer Michael O'Leary said successful a statement.

Demand weakness successful the UK reported earlier successful January has disappeared and whitethorn person been owed to transport strikes successful the country, O'Leary said successful a video presentation.

Last week, rivals Wizz Air and EasyJet reported beardown summertime bookings.

Ryanair, which dissimilar galore airlines, kept its pilots and unit up-to-date with their flying hours during the pandemic to instrumentality vantage of the swift rebound and flew a grounds 38.4 cardinal passengers successful last 3 months of 2022.

Its marketplace stock accrued to 40% successful Italy from 26% earlier the COVID-19 pandemic and to 38% successful Poland from 27%, the results connection said connected Monday.

"We spot the Easter and summertime booking commentary arsenic sentiment affirmative for the shares," Citi expert Sathish Sivakumar said successful a note.

Ryanair expects to alert 168 cardinal passengers successful the twelvemonth done March 31, good supra its erstwhile yearly grounds of 149 cardinal reached earlier the pandemic brought the question manufacture to a standstill.

Passenger numbers are acceptable to deed 185 cardinal successful the adjacent fiscal year, O'Leary said.