Ryanair Holdings (RYAAY - Free Report) reported highly impressive traffic numbers for the month of May driven by upbeat air-travel demand. The number of passengers ferried on RYAAY flights in May was 17 million. This compared favorably with the April figure of 16 million and 15.4 million in May 2022.
Owing to upbeat traffic, load factor (percentage of seats filled by passengers) was as high as 94% in May compared with 92% a year ago. RYAAY operated more than 94,400 flights in May 2023. On the flip side, more than 300 flights were cancelled due to Air traffic controllers strikes in May.
Owing to buoyant air-travel demand, shares of Ryanair have gained 23.6% over the past year against 4% decline of the Zacks Airline industry.
Ryanair expects to cut some flights in July and August due to delivery delays from Boeing.
Zacks Rank & Key Picks
Ryanair currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.
Some better-ranked stocks for investors interested in the Zacks Airline industry are Copa Holdings, S.A. (CPA - Free Report) and Allegiant Travel Company (ALGT - Free Report) .
Copa Holdings, which presently sports a Zacks Rank #1 (Strong Buy), is aided by improved air-travel demand. We are encouraged by the company’s initiatives to modernize its fleet. CPA's focus on its cargo segment is also impressive.
For second-quarter and full-year 2023, CPA’s earnings are expected to register 765.6% and 75.4% growth, respectively, on a year-over-year basis.
Allegiant, currently sporting a Zacks Rank #1, also benefits from buoyant air-travel demand. With air-travel demand rising in the United States, operating revenues improved 8.5% year over year in 2022.
Management expects revenues to remain strong in 2023 as well. In first-quarter 2023, operating revenues increased 29.9% on a year-over-year basis. For second-quarter and full-year 2023, ALGT’s earnings are estimated to rise 364.5% and 192%, respectively, on a year-over-year basis.
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Ryanair Holdings (RYAAY - Free Report) reported highly impressive traffic numbers for the month of May driven by upbeat air-travel demand. The number of passengers ferried on RYAAY flights in May was 17 million. This compared favorably with the April figure of 16 million and 15.4 million in May 2022.
Owing to upbeat traffic, load factor (percentage of seats filled by passengers) was as high as 94% in May compared with 92% a year ago. RYAAY operated more than 94,400 flights in May 2023. On the flip side, more than 300 flights were cancelled due to Air traffic controllers strikes in May.
Owing to buoyant air-travel demand, shares of Ryanair have gained 23.6% over the past year against 4% decline of the Zacks Airline industry.
Ryanair expects to cut some flights in July and August due to delivery delays from Boeing.
Zacks Rank & Key Picks
Ryanair currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.
Some better-ranked stocks for investors interested in the Zacks Airline industry are Copa Holdings, S.A. (CPA - Free Report) and Allegiant Travel Company (ALGT - Free Report) .
Copa Holdings, which presently sports a Zacks Rank #1 (Strong Buy), is aided by improved air-travel demand. We are encouraged by the company’s initiatives to modernize its fleet. CPA's focus on its cargo segment is also impressive.
For second-quarter and full-year 2023, CPA’s earnings are expected to register 765.6% and 75.4% growth, respectively, on a year-over-year basis.
Allegiant, currently sporting a Zacks Rank #1, also benefits from buoyant air-travel demand. With air-travel demand rising in the United States, operating revenues improved 8.5% year over year in 2022.
Management expects revenues to remain strong in 2023 as well. In first-quarter 2023, operating revenues increased 29.9% on a year-over-year basis. For second-quarter and full-year 2023, ALGT’s earnings are estimated to rise 364.5% and 192%, respectively, on a year-over-year basis.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
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