|Bid||9.41 x 0|
|Ask||9.42 x 0|
|Day's range||8.77 - 9.42|
|52-week range||8.05 - 1,251.50|
|Beta (5Y monthly)||1.01|
|PE ratio (TTM)||10.24|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||12 Feb 2015|
|1y target est||N/A|
The Irish budget airline said it would meet expectations for profit over the past year, but flight numbers are now at just 1% of normal levels.
(Bloomberg) -- Ryanair Holdings Plc predicted a 300 million-euro ($325 million) hit for the fiscal year that just ended because of costs arising from fuel hedges.Before the extra costs, profit for the year ended March 31 will come in as low as 950 million euros, the bottom end of its previous estimate, the Irish low-cost carrier said Friday. With its planes mostly grounded for April and May, Ryanair said it’s impossible to predict how results will shape up over the coming months.“Given the continued uncertainty on the impact and duration of the Covid-19 pandemic, it is not possible to give FY21 guidance at this time,” Ryanair said in a statement.A plunge in oil prices is usually good for airlines because jet fuel is their biggest expense. Carriers like Ryanair that rely on hedging positions to protect against future price increases have found those insurance policies are now costing them money. The company locked in purchases at prices set much higher, before the free-fall in crude that was fed by the virus and a clash between major oil producers.It’s one more challenge for an airline industry already on life support after measures to protect against the spread of the coronavirus caused an abrupt halt to travel. Ryanair said it’s now operating fewer than 20 daily flights, versus a normal schedule of more than 2,500 per day.The company said its balance sheet remains strong, with cash and equivalents of 3.8 billion euros, and 327 planes unencumbered and debt free. To conserve cash, Ryanair said it’s deferring capital investments, suspending buybacks and cutting management pay. The company said it’s in talks with unions to access government payroll-support across its European footprint.“We expect that the airline could weather a downturn longer than many peers in the European space,” Daniel Roeska, an analyst with Bernstein, said in a note. “The company could last possibly until around the end of the calendar year on current resources.”Ryanair shares were little changed at 8:30 a.m. in Dublin.Roeska said the balance-sheet update was a positive, but he wanted more information on the low-cost carrier’s exposure to ticket refunds and the unearned revenue balance for flights that will be taken once travel resumes.The hedging loss likely will hurt Ryanair’s cash position in the early part of fiscal 2021 because it requires payments to counterparties, he said.Oil prices have been extremely volatile after plunging to an 18-year low on Monday. Prices ranged from $25 to $30 a barrel after a record surge on Thursday following U.S. President Donald Trump’s tweet that he expected global producers to slash output by 10 million barrels or more.(Adds analyst comment in seventh paragraph, oil price background. A previous version of this story was corrected to show the profit forecast didn’t include a 300 million-euro charge)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Ryanair missed its 2020 target for passenger traffic and expects to book an exceptional charge of around 300 million euros for the year which ended last month, it said on Friday. It reported 2020 traffic up 4% to 149 million passengers, but that was short of the 151 million it had expected as of March 10 and lower than its earlier target of 154 million. Ryanair has been forced to park much of its fleet.
Billionaire investor Warren Buffett loves a bargain, but would he touch these three airlines today?The post EasyJet, IAG, and Ryanair are dirt cheap. What would Warren Buffett do? appeared first on The Motley Fool UK.
Ryanair on Tuesday said it does not expect to operate flights in April or May and has offered its aircraft to European governments for rescue or the essential movement of medicines and personal protective equipment. On March 18, Ryanair said it expected to ground most if not all of its flights from March 24 except a very small number mostly between Britain and Ireland.
Ryanair has the cash to survive for "maybe even 12 months" with no flights or revenue as the coronavirus shuts the air travel industry down, CEO Michael O'Leary said in an interview with the Financial Times on Friday. O'Leary said that he and the rest of the airline’s employees will take a 50% pay cut for the months of April and May, the newspaper reported. "The priority here for us as a company is how do we preserve as much cash so that if we have to operate for three, six, nine, maybe even 12 months, with no flights and no revenues how do we survive that, do we have the cash to survive that and we believe we do," O'Leary was quoted as saying.
Ryanair expects to ground most if not all of its flights from March 24 except a very small number mostly between Britain and Ireland to maintain essential connectivity, the airline said on Wednesday. Ryanair said this week that it would ground most of its aircraft over the next seven to 10 days as Europe's biggest low-cost airline braced for an up to 80% cut in capacity over the next two months and the possible grounding of its entire fleet due to coronavirus travel restrictions. "Ryanair will continue to stay in close contact with the foreign ministries of all EU governments on the repatriation of EU citizens, and where possible we may operate rescue flights to support this repatriation," the Irish carrier said in a statement.
The Zacks Analyst Blog Highlights: Ryanair, Air France KLM, Delta Air Lines, American Airlines and Southwest Airlines
Travel stocks were among the worst hit in Europe due to the consequences of the spiralling coronavirus pandemic.
Ryanair will ground most of its aircraft over the next seven to 10 days as Europe's biggest low-cost airline braces for an up to 80% cut in capacity over the next two months and could even ground its entire fleet due to coronavirus travel restrictions. It said the "extraordinary and unprecedented travel restrictions" being implemented across the continent had resulted in a substantial decline in bookings over the last 2 weeks, which it expected it to continue for the foreseeable future. With seat capacity set to shrink by up to 80% in April and May, Ryanair said a full grounding of the fleet cannot be ruled out as "social distancing" restrictions in countries where its fleet is not grounded "may make flying to all intents and purposes, impractical, if not, impossible."
Norwegian Air announced job cuts on Tuesday and British Airways has begun offering staff unpaid leave, as COVID-19 continues to disrupt the travel industry.