- Ryanair Holdings plc (NASDAQ:RYAAY) reported third-quarter FY23 sales growth of 57% year-on-year to €2.31 billion.
- Traffic in Q3 jumped 24% Y/Y to 38.4 million and posted a 7% rise from Q3 FY20 pre-Covid.
- Q3 profit amounted to €211 million compared to a loss of (€96) million last year.
- Ryanair expects Q4 to be loss-making due to the absence of Easter from March.
- As announced on Jan. 4, the company expects FY23 PAT (pre-exceptionals) in €1.325 billion – €1.425 billion.
- Ryanair held €4.07 billion in gross cash at the Q3 end.
- “Bookings are showing no signs of recession at this point in time,” said Chief Financial Officer Neil Sorahan, Reuters reported.
- “We had record bookings in week two and week three of January, very robust demand into Easter and the summer without fare stimulation,” he said.
- Price Action: RYAAY shares are trading lower by 0.88% at $94.85 in premarket on the last check Monday.
- Photo Via Company
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