Unveiling half-year results, the airline said: “The outlook for pricing and yields for the winter of FY22 (full-year 2022) will be challenging. With the booking curve remaining very close-in, traffic recovery will require continuing price stimulation.”
The carrier reported a net loss of €48 million in the six months to the end of September. Ryanair reported a first-quarter loss of €273 million, which implies a profit in July, August and September of €225 million.
The first-half loss of €48 million compares with a deficit of €411 million in the same period in 2020.
Looking ahead, the airline said the uncertainty and rising fuel costs “means that visibility for the remainder of FY22 is very limited”.
“We believe that FY22 traffic has improved to just over 100 million and, subject to winter fares, expect to record an FY22 loss of between €100-€200 million.
“This outturn will be crucially dependent on the continued roll-out of vaccines and no adverse Covid-19 developments.”
Ryanair took delivery of its first Boeing 737-8200 in June. The aircraft, previously known as the Boeing Max, will cut fuel costs by 16% and increase seating by 4%. Ryanair will receive 210 in the next five years and has raised its growth forecast from 33% to 50%.
“As a result, Ryanair’s pre-Covid traffic of 149 million is expected to grow to over 225 million guests by March 2026,” it said, adding the previous target was 200 million.
Another development may see the Irish airline quit the London Stock Exchange because of Brexit.
It said: “The migration away from the LSE is consistent with a general trend for trading in shares of EU corporates post Brexit and is potentially more acute for Ryanair as a result of the long-standing prohibition on non-EU citizens purchasing Ryanair’s ordinary shares being extended to UK nationals following Brexit.”
“The board of Ryanair is now considering the merits of retaining the Standard listing on the LSE.”
