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Ryanair Reports Dull September Traffic due to Coronavirus
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Ryanair Holdings (RYAAY - Free Report) posted disappointing traffic numbers for September, primarily due to weak air travel demand stemming from the COVID-19 pandemic. This Ireland-based carrier reported a 64% year-over-year plunge in September traffic to merely 5.1 million passengers.
Ryanair operated approximately 53% of the normal September schedule with a load factor (% of seats filled with passengers) of 71%. On a rolling-annual basis, total traffic at Ryanair (including the LaudaMotion unit) declined 47% to 79.9 million.
With the additional capacity reductions, Ryanair now expects its October capacity to decrease from 50% to approximately 40% of October 2019 levels. Even at this reduced schedule, the airline anticipates to maintain a load factor (percentage of seats filled with passengers) of more than 70% in October.
Long-term expected earnings per share (three to five years) growth rate for Canadian Pacific, Werner and Knight-Swift is pegged at 8.5%, 8.5% and 15%, respectively.
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Ryanair Reports Dull September Traffic due to Coronavirus
Ryanair Holdings (RYAAY - Free Report) posted disappointing traffic numbers for September, primarily due to weak air travel demand stemming from the COVID-19 pandemic. This Ireland-based carrier reported a 64% year-over-year plunge in September traffic to merely 5.1 million passengers.
Ryanair operated approximately 53% of the normal September schedule with a load factor (% of seats filled with passengers) of 71%. On a rolling-annual basis, total traffic at Ryanair (including the LaudaMotion unit) declined 47% to 79.9 million.
Apart from the traffic results, Ryanair was in news recently when it announced that it will reduce its October capacity by a further 20% due to coronavirus-related travel restrictions by European Union governments. In mid-August, the carrier had already announced plans to slash its October capacity by 20% due to a drop in bookings following surge in coronavirus cases in some European Union countries.
With the additional capacity reductions, Ryanair now expects its October capacity to decrease from 50% to approximately 40% of October 2019 levels. Even at this reduced schedule, the airline anticipates to maintain a load factor (percentage of seats filled with passengers) of more than 70% in October.
Zacks Rank & Key Picks
Ryanair carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader Transportation sector are Canadian Pacific Railway Limited (CP - Free Report) , Werner Enterprises, Inc. (WERN - Free Report) and Knight-Swift Transportation Holdings Inc (KNX - Free Report) . While Canadian Pacific and Knight-Swift carries a Zacks Rank #2 (Buy), Werner sports a Zacks Rank #1 (Strong 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 Canadian Pacific, Werner and Knight-Swift is pegged at 8.5%, 8.5% and 15%, respectively.
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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.
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