Ryanair Raises Five-Year Passenger Growth Forecast to 50%

By Jaime Llinares Taboada

Ryanair Holdings PLC on Thursday raised its five-year growth forecast to 225 million passengers by March 2026.

The Irish airline said it expects to deliver traffic growth of 50% from the pre-pandemic figure of 149 million passengers a year. This is up from the previous target of 33% and 200 million passengers a year by March 2026.

Ryanair also said the performance of Boeing Co.'s B737 aircraft this summer exceeded expectations and it will take delivery of 210 more over the next five years, subject to Covid-19 developments and vaccinations in Europe.

"These aircraft will deliver industry lowest costs, reduced emissions, and will enable Ryanair to accelerate its post-Covid growth, as opportunities open up at primary and secondary airports all over Europe, particularly where legacy carriers have failed or reduced fleet sizes as a result of Covid and state aid," it said.

The company said it expects to create more than 5,000 new jobs for pilots, cabin crew and engineers over the next five years, and it will open 10 new bases across Europe this year.

Write to Jaime Llinares Taboada at [e-mail]; @JaimeLlinaresT

(END) Dow Jones Newswires

September 16, 2021 02:36 ET (06:36 GMT)

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