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Ryanair's (RYAAY) December Traffic Drops 83% Amid Coronavirus
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Ryanair Holdings’ (RYAAY - Free Report) December traffic declined 83% year over year to 1.9 million guests as coronavirus continues to weigh on air-travel demand.
On a rolling-annual basis, total traffic at Ryanair (including the LaudaMotion unit) plunged 66% to 52.1 million. The carrier’s load factor (percentage of seats filled with passengers) in the month was 73%.
Amid coronavirus-led travel restrictions and aircraft groundings, the carrier’s traffic dropped 80% year over year during the first half of fiscal 2021. More than 99% of the airline’s fleet was grounded from mid-March to June-end. The company incurred a loss of €410.5 million in the first half of fiscal 2021. Ryanair expects losses to be even higher in the second half of fiscal 2021.
Due to travel restrictions, the airline expects its winter schedule (November-March) to be only 40% of 2019 levels. Additionally, during second-quarter fiscal 2021 earnings release, management forecast fiscal 2021 traffic to be only around 38 million. This indicates a significant decline from 60 million predicted during first-quarter fiscal 2021 earnings release, which again denotes a massive drop from fiscal 2020 traffic of 149 million.
Shares of ArcBest, Ryder and Herc Holdings have gained more than 58%, 15% and 30% in a year’s time, respectively.
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Ryanair's (RYAAY) December Traffic Drops 83% Amid Coronavirus
Ryanair Holdings’ (RYAAY - Free Report) December traffic declined 83% year over year to 1.9 million guests as coronavirus continues to weigh on air-travel demand.
On a rolling-annual basis, total traffic at Ryanair (including the LaudaMotion unit) plunged 66% to 52.1 million. The carrier’s load factor (percentage of seats filled with passengers) in the month was 73%.
Amid coronavirus-led travel restrictions and aircraft groundings, the carrier’s traffic dropped 80% year over year during the first half of fiscal 2021. More than 99% of the airline’s fleet was grounded from mid-March to June-end. The company incurred a loss of €410.5 million in the first half of fiscal 2021. Ryanair expects losses to be even higher in the second half of fiscal 2021.
Ryanair Holdings PLC Price
Ryanair Holdings PLC price | Ryanair Holdings PLC Quote
Due to travel restrictions, the airline expects its winter schedule (November-March) to be only 40% of 2019 levels. Additionally, during second-quarter fiscal 2021 earnings release, management forecast fiscal 2021 traffic to be only around 38 million. This indicates a significant decline from 60 million predicted during first-quarter fiscal 2021 earnings release, which again denotes a massive drop from fiscal 2020 traffic of 149 million.
Zacks Rank & Key Picks
Ryanair carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are ArcBest Corp. (ARCB - Free Report) , Ryder System (R - Free Report) and Herc Holdings (HRI - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of ArcBest, Ryder and Herc Holdings have gained more than 58%, 15% and 30% in a year’s time, respectively.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>