By Anthony O. Goriainoff
Ryanair Holdings PLC said Monday that its third-quarter net loss narrowed, and that due to the Omicron variant the outlook for pricing and yields for the year was “hugely uncertain.”
The budget airline said traffic in the fourth quarter will likely need a significant price stimulation at lower prices to recover the load factors that were affected by the collapse in bookings over the Christmas and New Year period due to Omicron.
For the three months ended Dec. 31, net loss was 96 million euros ($107 million), compared with net loss of EUR321 million the year before and consensus loss of EUR95.6 million, taken from FactSet and based on the forecasts of three analysts.
The airline said its net loss guidance for the year remained within a wider than normal range of EUR250 million to EUR450 million.
Revenue rose to EUR1.47 billion from EUR341.2 million a year earlier. Revenue consensus for the period was EUR1.52 billion, taken from FactSet and based on seven analysts’ forecasts.
Ancillary revenue per passenger rose 8% to EUR22 in the period, the company said.
The company said its load factor–a measure of how full a plane is–stood at 86% in November but at lower fares and 81% in December due to the measures stemming from the pandemic.
Write to Anthony O. Goriainoff at email@example.com