- Ryanair Holdings plc (NASDAQ:RYAAY) reported first-quarter revenue growth of 196% year-over-year to €371 million.
- The company reported a Q1 net loss of €(273) million, compared to a €(185) million loss a year ago.
- Scheduled revenues were up 91% Y/Y, reflecting a rise in traffic from 0.5m to 8.1m.
- Ancillary revenues increased to €179 million (+629% Y/Y), reflecting a 7.6 million rebound in traffic and a solid performance in priority boarding and reserved seating.
- Load factor improved to 73%, compared to 61% in 1Q21.
- Operating costs increased 116% Y/Y to €675 million, driven by variable costs.
- Ryanair’s net cash generated by operating activities year-to-date totaled €594.2 million, compared to €450.3 million cash used last year.
- The company mentions its fuel requirements are just under 60% hedged for FY22 at $565 per metric tonne and approx. 35% hedged for FY23 at $600.
- Ryanair reported a cash balance of €4.06 billion and a net debt of €1.66 billion as of June 30, 2021.
- Outlook: Ryanair said FY22 continues to be challenging, with Covid-19 travel restrictions prolonging uncertainty.
- It believes that FY22 traffic has improved to a range of 90m to 100m and expects that the likely outcome for FY22 is somewhere between a small loss and breakeven.
- Price Action: RYAAY shares closed at $104.52 on Friday.
Angion Announces Phase 2 ALI-201 Study Did Not Meet Primary Or Secondary Efficacy Endpoint
Angion Biomedica Corp. (NASDAQ:ANGN), a late-stage biopharmaceutical company focused on the discovery, development, and commercialization of novel small molecule therapeutics to address acute organ injuries and fibrotic
