Norbolsa | Results for its first half year ending in September and covering the entire summer season show an 18% fall in profit after tax and a 10% drop in fares. On the other hand, the comments for the next quarter are somewhat more positive, pointing out that the fall in tariffs is moderating and will probably be below 5%. In any case, Boeing’s lower aircraft deliveries mean it is…
The Ministry of Consumer Affairs has fined Ryanair (RYA-IE), Vueling (a member of the IAG holding company), EasyJet (EZJ-GB) and Volotea €150 million for charging for cabin baggage and forcing them to print tickets, among other things. Consumer Affairs, which opened a sanctioning procedure last August, prohibits in its resolution charging for hand luggage on board and for seat selection when travelling with dependents, sanctions the alleged lack of transparency…
Singular Bank | The Irish low-cost airline has released its business results. In its 2024 financial year, Ryanair posted a net profit of €1.92 billion, up 34% on the previous year, thanks largely to a 9% increase in traffic. As a result, the number of passengers exceeded 184 million, 23% more than before the pandemic. Despite higher oil prices, the airline drove cost reductions in other areas, which helped boost…
Norbolsa | Several online travel agencies, including Booking, Kayak and Kiwi, have stopped selling Ryanair flights on their platforms since early December due to regulatory and legal pressures. Ryanair believes that this move will not have a major impact on its accounts, pointing to a 1% or 2% increase in the percentage of empty seats on its flights in the months of December and January, but with no major impact…
Bankinter : The airline reports solid 1H fiscal results and announces dividend payment. Key figures versus market consensus (Bloomberg): Revenues €4,926M (+23%) vs €4,874M estimated; EPS (adjusted) €1,515M (+26%) vs €1,493M estimated; EPS (adjusted) €1.324 vs €1.337. Passengers reached €105.4M (+11%) and Occupancy Rate 95%. Prices are +24% higher than last year. Highlights: (i) Announces that it will pay a dividend this year of €400M (€0.35/share), which represents a dividend…
BOfAML | We modestly update our forecasts reflecting fuel prices and monthly traffic data reports. European airlines in our coverage have reported 6.5% ASK growth on average in 3Q19 and we look for 3.8% in 4Q19. We expect RASK recovery with flat unit revenues in 3Q19 on average and 1.7% yoy improvement in 4Q19.