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Ryanair (RYAAY) Posts Bland August Traffic Due To Pandemic
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Ryanair Holdings (RYAAY - Free Report) posted disappointing traffic numbers for August, primarily due to weak air travel demand stemming from the COVID-19 pandemic. This Ireland-based carrier reported a 53% year-over-year plunge in August traffic to merely 7 million guests.
Ryanair operated approximately 60% of the normal August schedule with a load factor (% of seats filled with passengers) of 73%. On a rolling-annual basis, total traffic at Ryanair (including the LaudaMotion unit) declined 40% to 88.9 million.
Apart from the traffic results, Ryanair was in news recently when it announced that it will be cutting capacity by 20% for September and October due to a drop in bookings lately as coronavirus cases in some European Union countries increase. The cuts will be focused on countries where the spurt in COVID-19 cases resulted in increased travel restrictions by the UK and Ireland.
Per a Reuters report, Ryanair will trim its workforce less than the original estimate of 3,000. This favorable development followed the decision taken by 97% of its pilots and more than 90% of its cabin crew to accept pay cuts as the coronavirus continues to ravage the aviation industry by shrinking air-travel demand significantly.
Long-term expected earnings per share (three to five years) growth rate for Knight-Swift, UPS and Werner is pegged at 15%, 7.7% and 8.5%, respectively.
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A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time. See 8 breakthrough stocks now>>
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Ryanair (RYAAY) Posts Bland August Traffic Due To Pandemic
Ryanair Holdings (RYAAY - Free Report) posted disappointing traffic numbers for August, primarily due to weak air travel demand stemming from the COVID-19 pandemic. This Ireland-based carrier reported a 53% year-over-year plunge in August traffic to merely 7 million guests.
Ryanair operated approximately 60% of the normal August schedule with a load factor (% of seats filled with passengers) of 73%. On a rolling-annual basis, total traffic at Ryanair (including the LaudaMotion unit) declined 40% to 88.9 million.
Apart from the traffic results, Ryanair was in news recently when it announced that it will be cutting capacity by 20% for September and October due to a drop in bookings lately as coronavirus cases in some European Union countries increase. The cuts will be focused on countries where the spurt in COVID-19 cases resulted in increased travel restrictions by the UK and Ireland.
Per a Reuters report, Ryanair will trim its workforce less than the original estimate of 3,000. This favorable development followed the decision taken by 97% of its pilots and more than 90% of its cabin crew to accept pay cuts as the coronavirus continues to ravage the aviation industry by shrinking air-travel demand significantly.
Zacks Rank & Stocks to Consider
Ryanair currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Zacks Transportation sector are Knight-Swift Transportation Holdings Inc. (KNX - Free Report) , United Parcel Service, Inc. (UPS - Free Report) and Werner Enterprises, Inc. (WERN - Free Report) . Knight-Swift sports a Zacks Rank #1(Strong Buy), while UPS and Werner carry a Zacks Rank #2(Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term expected earnings per share (three to five years) growth rate for Knight-Swift, UPS and Werner is pegged at 15%, 7.7% and 8.5%, respectively.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>