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Ryanair (RYAAY) Ups FY23 Traffic View Post UK Capacity Boost
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Ryanair Holdings (RYAAY - Free Report) expects to fly more passengers than previously estimated in fiscal 2023 (endingMar 31, 2023). The raised forecast is owing to the management’s decision to boost the airline’s UK winter schedule following a reduction in the winter schedule capacity of its rival British Airways.
Per a Reuters report, Ryanair now expects passenger volumes for fiscal 2023 to be 166.5 million. The previous expectation was 165 million. Ryanair augmented its UK capacity by adding above one million seats to/from 20 airports in the UK.
Management of British Airways decided to cancel some flights until Oct 31, 2022. This came after the announcement that Heathrow airport will slash capacity to combat widespread operational disruption. Ryanair, however, does not fly from Heathrow.
Many European carriers, like their U.S. counterparts, have been struggling for a while to tackle the buoyant air-travel demand scenario in the post-lockdown era due to staff shortage.
Ryanair, currently carrying a Zacks Rank #3 (Hold), has been aided by upbeat air traffic. In July, RYAAY flew 16.8 million passengers, the highest ever traffic volume at the carrier in the said month. Last July, only 9.3 million passengers were transported by RYAAY. Load factor (% of seats filled by passengers) increased to 96% from 80% in July 2021. The number of passengers ferried by RYAAY in July 2022 was 14.2% higher than the 14.8 million passengers flown in July 2019 (pre-coronavirus era).
Investors interested in the Zacks Transportation sector may consider the likes of GATX Corporation (GATX - Free Report) , Triton International Limited and Ryder System (R - Free Report) , each carrying a Zacks Rank #2 (Buy).
Based in Chicago, IL, GATX is a global railcar lessor with owned fleets in North America, Europe and Asia. Improvement in the North American railcar leasing market is expected to continue driving its growth.
Shares of GATX have gained 4.8% in a month’s time. The Zacks Consensus Estimate for GATX’s 2022 earnings has been revised 2.1% upward in the past 60 days.
Based in Hamilton, Bermuda, Triton is the largest lessor of intermodal containers (large steel boxes used for transporting freight by ship/rail/truck). TRTN also focuses on leasing chassis, used for transporting containers. Strong trade volumes and container demand are driving its top line.
Shares of Triton have gained 9.2% in a month’s time. The Zacks Consensus Estimate for TRTN’s 2022 earnings has been revised 4.2% upward in the past 60 days.
Ryder provides integrated logistics and transportation solutions. Strong freight market conditions in the United States, upbeat rental demand and favorable pricing are key catalysts for Ryder’s growth.
Shares of Ryder have gained 7.6% in a month’s time. The Zacks Consensus Estimate for R’s 2022 earnings has been revised 4.1% upward in the past 60 days.
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Ryanair (RYAAY) Ups FY23 Traffic View Post UK Capacity Boost
Ryanair Holdings (RYAAY - Free Report) expects to fly more passengers than previously estimated in fiscal 2023 (endingMar 31, 2023). The raised forecast is owing to the management’s decision to boost the airline’s UK winter schedule following a reduction in the winter schedule capacity of its rival British Airways.
Per a Reuters report, Ryanair now expects passenger volumes for fiscal 2023 to be 166.5 million. The previous expectation was 165 million. Ryanair augmented its UK capacity by adding above one million seats to/from 20 airports in the UK.
Management of British Airways decided to cancel some flights until Oct 31, 2022. This came after the announcement that Heathrow airport will slash capacity to combat widespread operational disruption. Ryanair, however, does not fly from Heathrow.
Many European carriers, like their U.S. counterparts, have been struggling for a while to tackle the buoyant air-travel demand scenario in the post-lockdown era due to staff shortage.
Ryanair, currently carrying a Zacks Rank #3 (Hold), has been aided by upbeat air traffic. In July, RYAAY flew 16.8 million passengers, the highest ever traffic volume at the carrier in the said month. Last July, only 9.3 million passengers were transported by RYAAY. Load factor (% of seats filled by passengers) increased to 96% from 80% in July 2021. The number of passengers ferried by RYAAY in July 2022 was 14.2% higher than the 14.8 million passengers flown in July 2019 (pre-coronavirus era).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stocks to Consider
Investors interested in the Zacks Transportation sector may consider the likes of GATX Corporation (GATX - Free Report) , Triton International Limited and Ryder System (R - Free Report) , each carrying a Zacks Rank #2 (Buy).
Based in Chicago, IL, GATX is a global railcar lessor with owned fleets in North America, Europe and Asia. Improvement in the North American railcar leasing market is expected to continue driving its growth.
Shares of GATX have gained 4.8% in a month’s time. The Zacks Consensus Estimate for GATX’s 2022 earnings has been revised 2.1% upward in the past 60 days.
Based in Hamilton, Bermuda, Triton is the largest lessor of intermodal containers (large steel boxes used for transporting freight by ship/rail/truck). TRTN also focuses on leasing chassis, used for transporting containers. Strong trade volumes and container demand are driving its top line.
Shares of Triton have gained 9.2% in a month’s time. The Zacks Consensus Estimate for TRTN’s 2022 earnings has been revised 4.2% upward in the past 60 days.
Ryder provides integrated logistics and transportation solutions. Strong freight market conditions in the United States, upbeat rental demand and favorable pricing are key catalysts for Ryder’s growth.
Shares of Ryder have gained 7.6% in a month’s time. The Zacks Consensus Estimate for R’s 2022 earnings has been revised 4.1% upward in the past 60 days.