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Ryanair Holdings PLC (RYAAY) - free report >>
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Ryanair Holdings PLC (RYAAY) - free report >>
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Ryanair (RYAAY) March Traffic Increases From 2024 Levels
Ryanair Holdings (RYAAY - Free Report) reported solid traffic numbers for March 2024, driven by upbeat air-travel demand. The number of passengers ferried on RYAAY flights in February was 13.60 million, implying that 8% more passengers flew than a year ago.
The load factor (percentage of seats filled by passengers) was high at 93% in March 2024. The reading was similar in the year-ago period.
RYAAY operated more than 77,000 flights in March 2024. However, more than 950 flights got canceled due to the Israel/Gaza conflict.
Owing to buoyant air travel demand, shares of Ryanair have gained 11.4% so far this year, which compares favorably with 4.7% growth of the Zacks Airline industry.
Image Source: Zacks Investment Research
Ryanair still expects traffic for fiscal 2024 to be 183.5 million despite headwinds like Boeing delivery delays. It has narrowed its fiscal 2024 view for profit after tax or PAT. The airline now expects fiscal 2024 PAT in the €1.85-€1.95 billion range (previous expectation was between €1.85 and €2.05 billion).
Zacks Rank and Other Stocks to Consider
RYAAY currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the Zacks Transportation sector are Air Lease Corporation (AL - Free Report) and Kirby Corporation (KEX - Free Report) . Each stock presently carries a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Air Lease has an impressive earnings surprise history. The company's earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 20.15%.
The Zacks Consensus Estimate for Air Lease’s 2024 earnings has been revised 27.7% upward over the past 90 days. AL has an expected earnings growth rate of 29.96% for 2024. Shares of AL have gained 31.7% in the past year.
KEX has an impressive earnings surprise history. The company's earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 5.75%.
KEX has an expected earnings growth rate of 32.80% for 2024. Shares of KEX have gained 41.6% in the past year.