Trending: Ryanair Posts Higher Earnings, But Pricing Disappoints
1158 GMT - Ryanair is among the most-mentioned companies across news items over the past six hours, according to Factiva data, after the Irish carrier reported upbeat year-end results and a 700 million euros ($760.9 million) share buyback. However, concerns about its prices weighed on shares. "It might seem counterintuitive that Ryanair's share price is enduring a bit of turbulence after the low-cost airline announced record passenger numbers and profits, but the prospect that ticket price cuts might be on the way has subdued sentiment," AJ Bell analyst Danni Hewson said in a note. Ryanair, which reported higher year-end earnings on rising passenger numbers, said summer bookings were trending ahead of their prior-year level. This summer outlook has been echoed by several of the company's peers, including Lufthansa in Germany, and London-listed easyJet. That said, Ryanair said recent pricing was softer than previously expected and should remain subdued. In addition, the company warned that Boeing delays could continue into fiscal 2025 but said it expected passenger numbers to increase nevertheless. Ryanair said it hoped to have 158 Boeing 737 Gamechangers by the end of July, 23 fewer than contracted. Dow Jones & Co. owns Factiva. (pierre.bertrand@wsj.com)
(END) Dow Jones Newswires
May 20, 2024 08:13 ET (12:13 GMT)
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