Ryanair (RYAAY) CEO Confident of Meeting August Traffic Target
Ryanair's (RYAAY) CEO expects August traffic to be about 10.5 million.
Per Ryanair Holdings’ RYAAY CEO Michael O'Leary, the carrier is on track to achieve its current-month guidance with respect to passengers to be transported, backed by strong booking trends. This was mentioned in a recent Reuters report.
In July, while reporting first-quarter fiscal 2022 (ended Jun 30, 2021) results, this Irish low-cost airline had predicted that it will carry more than 10 million passengers in August. With bookings continuing to be impressive, the CEO is naturally bullish on the possibility of matching that outlook.
Expressing his enthusiasm, O’Leary stated: "Ryanair is recovering strongly, much faster than any other airline in Europe ... Bookings are increasing very rapidly".
Ryanair currently expects traffic for fiscal 2022 in the 90-100 million range. The midpoint of this guided range (95 million) is much higher than the fiscal 2021 traffic of merely 27.5 million.
In fact, Ryanair’s traffic has been improving over the past few months, reflecting the improvement in air-travel demand, courtesy of the ramp-up in vaccination drives. Evidently, the carrier transported 1 million passengers in April, 1.8 million in May, 5.3 million in June and 9.3 million in July. With bookings remaining strong, O’Leary expects August traffic to increase to 10.5 million.
Zacks Rank & Stocks to Consider
Ryanair currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader Zacks Transportation sector are Knight-Swift Transportation Holdings Inc. KNX,Landstar System, Inc. LSTR and Herc Holdings Inc. HRI. Both Knight-Swift and Landstar currently carry a Zacks Rank #2 (Buy) while Herc Holdings sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term expected earnings per share (three to five years) growth rate for Knight-Swift, Landstar and Herc Holdings is pegged at 15%, 12% and 49.2%, respectively.
Tech IPOs With Massive Profit Potential
In the past few years, many popular platforms and like Uber and Airbnb finally made their way to the public markets. But the biggest paydays came from lesser-known names.
For example, electric carmaker X Peng shot up +299.4% in just 2 months. Think of it this way…
If you had put $5,000 into XPEV at its IPO in September 2020, you could have cashed out with $19,970 in November.
With record amounts of cash flooding into IPOs and a record-setting stock market, this year’s lineup could be even more lucrative.See Zacks Hottest Tech IPOs Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Ryanair Holdings PLC (RYAAY): Free Stock Analysis Report
KnightSwift Transportation Holdings Inc. (KNX): Free Stock Analysis Report
Landstar System, Inc. (LSTR): Free Stock Analysis Report
Herc Holdings Inc. (HRI): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research