Ryanair Holdings plc today (4 April) briefed the market that it expects to report a pre-exceptional FY22 (yr. ended 31 Mar. 2022) net loss of between -€350m and -€400m (previously guided range of -€250m to -€450m). The Ryanair Group’s full-year traffic to March 2022 recovered strongly to over 97.1m compared with FY21 of 27.5m, however, this remains below pre-Covid traffic of 149m.
Ryanair’s balance sheet is one of the strongest in their sector with a BBB (stable) credit rating (S&P and Fitch). Year end (31 March) net debt dropped to €1.5bn (prior year €2.3bn), and c.90% of the Group’s fleet of B737 aircraft are unencumbered.
Since Ryanair’s last market update on 31 January, Ryanair has increased FY23 (yr. ended 31 Mar. 2023) fuel hedging to 80% cover (c.65% jet swaps at $630 and 15% caps at $775 per metric tonne). Almost 10% of Ryanair’s H1 FY24 fuel requirements are hedged at $760 (via jet swaps).
As this is a closed period, the Ryanair Group’s next market update will be on 16 May when FY22 results will be released.
Ryanair March Traffic Rises to 11.2m Guests
Ryanair traffic volumes reached 11.2 million despite the impact of the Russian invasion of Ukraine which caused 2,000 canceled flights. This compares with 0.5 million in March of 2021.
Load factor for the month of March was 87% (versus 77% for the same month in 2021) with Ryanair operating over 67,800 flights for March 2022. The rolling annual load factor to March 2022 was 87% (compared with 71% for the same period last year).
