Ryanair Holdings Swings to 3Q Profit, Backs Fiscal Year 2023 Guidance

By Ian Walker

Ryanair Holdings PLC on Monday reported a swing to third quarter adjusted post tax profit, which was slightly ahead of guidance provided at the start of the month, and backed its full year forecast.

The Irish budget airline added that it still expects to report a fourth quarter loss due to the absence of Easter from March.

Ryanair made a pre-exceptional post tax profit--its preferred metric--of 211 million euros ($229.3 million) for the third quarter ended Dec. 31 compared with a loss of EUR96 million for the comparable period a year earlier and guidance for a profit of around EUR200 million given on Jan. 4.

The airline reiterated that it expects to report a pre-exceptional profit after tax for the year ending March 31 of between EUR1.33 billion and EUR1.43 billion. The guidance was raised from EUR1 billion to EUR1.20 billion after a stronger than expected peak in Christmas and New Year's traffic and fares.

Revenue for the quarter was EUR2.31 billion compared with EUR1.47 billion a year ago.

The airline carried 38.4 million passengers in the quarter compared with 31.1 million a year ago and backed its full-year guidance for 168 million passengers.

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(END) Dow Jones Newswires

January 30, 2023 01:15 ET (06:15 GMT)

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