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Apr 4 2022, 08:05 IST/BST
Ryanair Holdings
Net debt position suggests booking levels strong for the summer
- Sectors : Airlines
- Companies : Ryanair Holdings
DAVY VIEW
Ryanair had a pre-close statement, narrowing its net loss (pre-exceptional) range to -€350m and -€400m (previously guided -€250m to -€450m). Davy was -€347.8m and we note that the loads in March at 87% were affected by flight cancellations to/from Ukraine. The standout was a reduction in net debt (from €2.1bn at Dec-31 to €1.5bn), which indicates to us that working capital has moved positive in a big way, reflecting bookings for the summer.
