Airlines

Ryanair to be standout in earnings season

  • Sectors : Airlines
  • Companies : Ryanair Holdings | Wizz Air Holdings | easyJet

Ratings

Ratings and price correct at time of issue

Company Rating Date Previous Rating Date Closing Price
easyJet OUTPERFORM 24/01/22 Neutral 14/07/21 357p
Ryanair Holdings OUTPERFORM 07/12/09 Neutral 02/11/09 1166c
Wizz Air Holdings NEUTRAL 25/04/22 Underperform 21/04/21 1792.0p

DAVY VIEW

First up on reporting season for the airlines will be the low-cost carriers (LCCs), and we expect Ryanair to be the standout performer from a cost, operational efficiency and growth perspective. Disruption costs could range from c.£150m for easyJet, €50m for Wizz and immaterial for Ryanair (consulting firm Cirium reported June cancellations of close to 5% in easyJet, 4% in Wizz and 0.2% at Ryanair). Unit revenue should remain strong (close to double-digit of pre-COVID levels) throughout the sector for peak summer.

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Jul 14 2022, 06:45 IST/BST

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