Ryanair’s Q2 again delighted the market. On top of the vigorous capacity and fares, the outstanding cost management is worth applauding. Demand and average yields are expected to continue their positive momentum, supported by the forward-booking indicators. However, the FY after-tax guidance looks prudent as uncertainties remain. We expect a moderate downgrade in the consensus and our estimates.
09 Nov 2022
Superb Q2; prudent outlook for H2
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Superb Q2; prudent outlook for H2
Ryanair’s Q2 again delighted the market. On top of the vigorous capacity and fares, the outstanding cost management is worth applauding. Demand and average yields are expected to continue their positive momentum, supported by the forward-booking indicators. However, the FY after-tax guidance looks prudent as uncertainties remain. We expect a moderate downgrade in the consensus and our estimates.