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Coronavirus Woes Mar Ryanair's (RYAAY) May Traffic Results
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With the coronavirus pandemic disrupting air-travel demand, European low-cost carrier Ryanair Holdings (RYAAY - Free Report) reported a 99.5% year-over-year plunge in May traffic to merely 0.07 million guests. As wide-spread travel restrictions are still in place, the carrier’s LaudaMotion unit in Austria did not carry any passenger during the month.
This Zacks Rank #2 (Buy) Irish carrier operated 701 scheduled flights in May including those for rescue operations, relief and medicine supply on behalf of various EU governments. Moreover, 99% of those flights arrived on time. On a rolling annual basis, total traffic at Ryanair (including the LaudaMotion unit) decreased 17% to 121 million. Load factor (% of seats filled with passengers) was 95% on a rolling annual basis. Due to travel bans and curbs, Ryanair expects its traffic numbers for June to be minimal too.
To match this extremely low demand scenario, Ryanair trimmed its flight capacity significantly. Notably, it is not the only carrier to have slashed capacity due to the pandemic-borne crisis. U.S.-based carriers including American Airlines (AAL - Free Report) and United Airlines (UAL - Free Report) , both currently carrying a Zacks Rank #3 (Hold), also suspended various flights in the wake of the coronavirus onslaught.
The traffic report apart, Ryanair recently grabbed headlines for challengingthe government rescue package for the Zacks #3 Ranked German carrier Deutsche Lufthansa (DLAKY - Free Report) . This European low-cost airline fears that the huge state aid, which will be effective following the European Commission’s approval, will tamper a healthy competition and deny a fair play to low-cost carriers like Ryanair.
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?
Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
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Coronavirus Woes Mar Ryanair's (RYAAY) May Traffic Results
With the coronavirus pandemic disrupting air-travel demand, European low-cost carrier Ryanair Holdings (RYAAY - Free Report) reported a 99.5% year-over-year plunge in May traffic to merely 0.07 million guests. As wide-spread travel restrictions are still in place, the carrier’s LaudaMotion unit in Austria did not carry any passenger during the month.
This Zacks Rank #2 (Buy) Irish carrier operated 701 scheduled flights in May including those for rescue operations, relief and medicine supply on behalf of various EU governments. Moreover, 99% of those flights arrived on time. On a rolling annual basis, total traffic at Ryanair (including the LaudaMotion unit) decreased 17% to 121 million. Load factor (% of seats filled with passengers) was 95% on a rolling annual basis. Due to travel bans and curbs, Ryanair expects its traffic numbers for June to be minimal too.
To match this extremely low demand scenario, Ryanair trimmed its flight capacity significantly. Notably, it is not the only carrier to have slashed capacity due to the pandemic-borne crisis. U.S.-based carriers including American Airlines (AAL - Free Report) and United Airlines (UAL - Free Report) , both currently carrying a Zacks Rank #3 (Hold), also suspended various flights in the wake of the coronavirus onslaught.
The traffic report apart, Ryanair recently grabbed headlines for challengingthe government rescue package for the Zacks #3 Ranked German carrier Deutsche Lufthansa (DLAKY - Free Report) . This European low-cost airline fears that the huge state aid, which will be effective following the European Commission’s approval, will tamper a healthy competition and deny a fair play to low-cost carriers like Ryanair.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Top 10 Stocks for 2020
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?
Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2020 today >>