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Ryanair (RYAAY) to Open New Base in Madeira, Add 10 New Routes

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Ryanair Holdings (RYAAY - Free Report) announced plans to open a new base in Madeira, Portugal during summer 2022. With two based aircraft and an investment of $200 million, this will be RYAAY’s fifth base in Portugal.

This new base will widen Ryanair’s connectivity, with 10 new routes connecting Madeira with several European destinations, including mainland Portugal, throughout the year. With this, the carrier will offer more than 40 flights per week.

The 10 new routes to Madeira, include services from Brussels Charleroi, Dublin, Lisbon, London Stansted Airport, Manchester, Marseille, Milan Bergamo, Nuremberg, Paris Beauvais and Porto. The services, set to launch during summer 2022, are expected to attract substantial traffic.

Ryanair’s CEO, Eddie Wilson, said, “This $200m investment will not only boost Portugal’s economy by driving vital tourism but will also create more than 60 direct jobs in the region and over 400 on-site jobs in Madeira.”Wilson further added, “At a time when other airlines are reducing their fleets and closing bases, we are delighted to continue to invest in both our people and airports in Portugal.”

Zacks Rank & Key Picks

Ryanair carries a Zacks Rank #4 (Sell).

Here are some better-ranked stocks within the broader Transportation sector:

Schneider National (SNDR - Free Report) sports a Zacks Rank #1 (Strong Buy). The company has a stellar earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 21%. You can see the complete list of today’s Zacks #1 Rank stocks here.

Shares of Schneider National have rallied more than 25% so far this year.

Expeditors International of Washington (EXPD - Free Report) also sports a Zacks Rank #1. The company’s earnings have surpassed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 29.1%.

Shares of Expeditors have appreciated nearly 34% so far this year.

Landstar System (LSTR - Free Report) carries a Zacks Rank #2 (Buy). The company’s earnings have trumped the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 11.4%.

Shares of Landstar have gained more than 32% so far this year.