Ryanair (RYAAY) July Traffic Results Hurt By Coronavirus Woes

Ryanair Holdings RYAAY posted bland traffic numbers for July, primarily due to weak air travel demand stemming from the COVID-19 pandemic. This Irish carrier reported a 70% year-over-year plunge in July traffic to 4.4 million passengers.

Ryanair operated approximately 40% of the normal July schedule with a load factor (% of seats filled with passengers) of 72%. On a rolling annual basis, total traffic at Ryanair (including the LaudaMotion unit) declined 35% to 96.8 million.

Ryanair Holdings PLC Price

Ryanair Holdings PLC Price

Ryanair Holdings PLC price | Ryanair Holdings PLC Quote

Apart from the traffic results, Ryanair was in the news recently when it reported first-quarter fiscal 2021 (ended Jun 30, 2020) financials. The company incurred a loss of 93 cents per share in the first quarter of fiscal 2021 (ended Jun 30, 2020). As was the case with the traffic report, dismal air-travel demand hurt quarterly results. Notably, the carrier regarded the fiscal first-quarter as the most challenging in its 35 years of history with EU governments’ travel restrictions and lockdowns across several nations. More than 99% of the airline’s fleet was grounded from mid-March to June-end. Quarterly revenues of $137.8 million plunged 94.7% year over year due to massive decline in traffic.

Ryanair flying schedules are expected to increase in the coming months, with the airline hoping to operate 60% of the usual schedule in August and 70% in September.

Zacks Rank & Key Picks

Ryanair, currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Better-ranked stocks in the Zacks Transportation sector are C.H. Robinson Worldwide, Inc. CHRW, Werner Enterprises, Inc. WERN and United Parcel Service, Inc. UPS, all sporting a Zacks Rank #1.

Long-term earnings (three to five years) growth rate for C.H. Robinson, Werner and United Parcel is estimated at 9%, 8.5% and 7.7%, respectively.

Biggest Tech Breakthrough in a Generation

Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.

A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.

See 8 breakthrough stocks now>>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Ryanair Holdings PLC (RYAAY): Free Stock Analysis Report
United Parcel Service, Inc. (UPS): Free Stock Analysis Report
C.H. Robinson Worldwide, Inc. (CHRW): Free Stock Analysis Report
Werner Enterprises, Inc. (WERN): Free Stock Analysis Report
To read this article on Zacks.com click here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.