Increasing by 2.6% from the 11.2mln guests in 2019 Ryanair beat December pre-Covid traffic levels for the first time.
11.5mln travellers used Ryanair in the winter month with a load factor of 92%, operating over 65,500 flights during December.
In the last nine months the low-cost airline reported increased guest levels compared to pre-pandemic figures.
Flying 133.5mln so far this financial year, the Irish airline requires close to 35mln guests throughout the next quarter to achieve its 168mln annual guidance.
“This should be achievable as long as there are no travel restrictions or sustained periods of bad weather” Alexander Paterson from Peel Hunt said.
Shares dropped by 3.9% to €12.52 since December began, the stock further decreased 0.2% since trading opened today following the latest reports.
An €18 price target reiterates Peel Hunt’s buy rating meanwhile Liberum remain less optimistic forecasting a €13 value, four cents less than the stock began December at.