Yahoo Finance Ryanair to cut winter ticket prices as it mulls delisting
Ryanair (RYA.L) said on Monday that it would look to cut winter ticket prices ahead of Christmas as it turned its first quarterly profit since the COVID-19 pandemic began.
The budget airline reported revenue in the first half of €2.2bn (£1.9bn, $2.6bn), up 83% year-on-year, as passenger numbers more than doubled.
Despite good cost control the group remains loss-making, with losses falling from €411m a year ago to €48m in the half.
The ban on UK nationals buying Ryanair shares remains in place following Brexit. Given the reduction in London trading of Ryanair shares, the board are considering de-listing Ryanair shares from the London Stock Exchange (LSEG.L).
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"The Board of Ryanair is now considering the merits of retaining the standard listing on the London Stock Exchange (LSE)," the airline said in a statement on the release of its financial results for the six months to the end of September.
"The migration away from the LSE is consistent with a general trend for trading in shares of EU corporates post Brexit."
Ryanair stock fell more than 4% in early trade, before rebounding to 0.7% higher by 9.30am.
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“Guidance for losses this financial year has rattled Ryanair shares, confirming that recovery from the pandemic will likely take longer than expected," said Nicholas Hyett, equity analyst at Hargreaves Lansdown.
"With plenty of uncertainty about the shape of the economic recovery, the eventual bill form the pandemic could yet be even higher than feared. However, there are some signs that Ryanair will emerge from the pandemic stronger than it went in."
While conditions remain highly uncertain the group now expects to report a full year loss of between €100m and €200m.
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