Irish low-cost carrier Ryanair said it expects to report a stronger than expected third quarter ending 31 December with post tax profits close to €200m.
Strong pent-up travel demand over the holiday season for the first time in three years, with no adverse impact from Covid or the war in Ukraine, stimulated stronger than expected peak Christmas/New Year traffic and fares.
2023 traffic guidance of 168 million passengers remains unchanged. Ryanair expects fourth quarter to be loss-making due to the absence of Easter from March, and a recent softening in UK outbound and Irish –UK traffic and pricing.
As a result of these recent developments, Ryanair has raised its full-year post tax profits guidance (before exceptionals) from a current range of €1.00bn – €1.20bn to a new range of €1.325bn – €1.425bn.
“This guidance remains heavily dependent upon avoiding adverse events in the fourth quarter (such as Covid or the war in Ukraine),” the carrier said.