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Ryanair (RYAAY) November Traffic Increases From 2022 Levels
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Ryanair Holdings (RYAAY - Free Report) reported solid traffic numbers for November, driven by upbeat air-travel demand. The number of passengers ferried on RYAAY flights in September was 11.7 million, implying that 4% more passengers flew than a year ago.
The load factor (percentage of seats filled by passengers) was high at 92% in November 2023. The reading was similar in the year-ago period. RYAAY operated more than 66,400 flights in November 2023. However, more than 960 flights got cancelled due to the Israel/Gaza conflict.
Owing to buoyant air travel demand, shares of Ryanair have gained 60.7% so far this year compared with 6.6% growth of the Zacks Airline industry.
Image Source: Zacks Investment Research
An improvement in Ryanair’s traffic from the pandemic-led slump is encouraging. Passenger volume has been robust at Ryanair over the past few months owing to the rebound in air traffic. The company recently reported second-quarter fiscal 2024 (ended Sep 30, 2023) revenues of $5,361.3 million, which beat the Zacks Consensus Estimate of $5,137.7 million.
Revenues improved year over year driven by upbeat passenger volumes. Further, traffic grew 11% to 105.4 million during the first half of fiscal 2024. On the back of the buoyant traffic scenario, RYAAY’s profit after tax grew 59% year over year during the first half of fiscal 2024. Ryanair expects its traffic view for fiscal 2024 to be 183.5 million.
Zacks Rank and Stocks to Consider
Currently, Ryanair carries a Zacks Rank #3 (Hold).
Wabtec has an expected earnings growth rate of 22.02% for the current year. WAB delivered a trailing four-quarter earnings surprise of 7.11%, on average.
The Zacks Consensus Estimate for WAB’s current-year earnings has improved 5.1% over the past 90 days. Shares of WAB have gained 17.3% year to date.
SkyWest's fleet-modernization efforts are commendable. The Zacks Consensus Estimate for SKYW’s current-year earnings has improved 31.5% over the past 90 days. Shares of SKYW have surged 181.3% year to date.
SKYW delivered a trailing four-quarter earnings surprise of 32.57%, on average.
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Ryanair (RYAAY) November Traffic Increases From 2022 Levels
Ryanair Holdings (RYAAY - Free Report) reported solid traffic numbers for November, driven by upbeat air-travel demand. The number of passengers ferried on RYAAY flights in September was 11.7 million, implying that 4% more passengers flew than a year ago.
The load factor (percentage of seats filled by passengers) was high at 92% in November 2023. The reading was similar in the year-ago period. RYAAY operated more than 66,400 flights in November 2023. However, more than 960 flights got cancelled due to the Israel/Gaza conflict.
Owing to buoyant air travel demand, shares of Ryanair have gained 60.7% so far this year compared with 6.6% growth of the Zacks Airline industry.
Image Source: Zacks Investment Research
An improvement in Ryanair’s traffic from the pandemic-led slump is encouraging. Passenger volume has been robust at Ryanair over the past few months owing to the rebound in air traffic. The company recently reported second-quarter fiscal 2024 (ended Sep 30, 2023) revenues of $5,361.3 million, which beat the Zacks Consensus Estimate of $5,137.7 million.
Revenues improved year over year driven by upbeat passenger volumes. Further, traffic grew 11% to 105.4 million during the first half of fiscal 2024. On the back of the buoyant traffic scenario, RYAAY’s profit after tax grew 59% year over year during the first half of fiscal 2024. Ryanair expects its traffic view for fiscal 2024 to be 183.5 million.
Zacks Rank and Stocks to Consider
Currently, Ryanair carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Zacks Transportation sector are Westinghouse Air Brake Technologies Corporation, operating as Wabtec Corporation (WAB - Free Report) and SkyWest, Inc. (SKYW - Free Report) . Each stock presently carries a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Wabtec has an expected earnings growth rate of 22.02% for the current year. WAB delivered a trailing four-quarter earnings surprise of 7.11%, on average.
The Zacks Consensus Estimate for WAB’s current-year earnings has improved 5.1% over the past 90 days. Shares of WAB have gained 17.3% year to date.
SkyWest's fleet-modernization efforts are commendable. The Zacks Consensus Estimate for SKYW’s current-year earnings has improved 31.5% over the past 90 days. Shares of SKYW have surged 181.3% year to date.
SKYW delivered a trailing four-quarter earnings surprise of 32.57%, on average.