Ryanair reports double-digit passenger growth in October but urgent upgrade to force site closure
The group said total traffic grew 11% to 13.1mln compared to a year ago with a 96% load factor
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LON:RYA
Ryanair operates a scheduled passenger airline serving routes between Ireland, the United Kingdom, Continental Europe and Morocco. It claims to be Europe's largest airline and is the parent company of Ryanair DAC, Ryanair UK, Buzz and Lauda airlines
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The group said total traffic grew 11% to 13.1mln compared to a year ago with a 96% load factor
FTSE 100 closed marginally higher but mid-cap cousin FTSE 250 plunged nearly ten points.
Ryanair has had a tough year and last week reported a slump in first-half earnings after being hit by higher fuel costs and the impact of cabin crew strikes across Europe, which dented bookings
European airline stocks have fallen by around a fifth since the first half results season - and now look oversold, according to Deutsche Bank analysts
The carrier reiterated its full-year profit forecast of between €1.1bn - €1.2bn and said European short-haul airfares would likely remain soft this winter
The UK's premier index of leading shares closed down seven points, or 0.10% at 7,042
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Aside from the banking trio, updates are also due in the week ahead from the likes of WPP, Whitbread, International Airlines Group, Ryanair, Glencore and Antofagasta
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British Airways parent IAG has said it remains interested in buying Norwegian but will sell its shares if no deal can be agreed
A fall in load factor will be a disappointment for some, given that, in an era of low ticket prices, airlines need to get as many bums on seats as possible
“We want to have agreements in place with crew and pilots by Christmas,” said Kenny Jacobs, the airline's chief marketing officer
The two budget airlines reported passenger growth year-on-year of 11% and 17.5% respectively
Some of the main risers and fallers in London on Monday…
The budget carrier said it could not rule out further disruptions in the third quarter, which may require full year guidance to be lowered further
Around 35,000 passengers are thought to be affected by the strikes, with workers demonstrating against a series of what they consider to be unfair conditions
Ryanair has accused competitor airline crew of conspiring to call repeated and unnecessary strikes
Italian competition authority Antitrust said hand luggage is an "essential” item for travellers and should be included in the plane ticket price
Aberdeen Standard Investments said it plans to vote against the re-election of the chairman at the next AGM unless he is replaced
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Diageo and Lamprell are expected to be among the names under focus in Thursday's schedule.
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BA-owner IAG is tipped to rise, whereas the outlook was seen to be less rosy for EasyJet and Ryanair.
easyjet reported that passenger numbers for the month were up 5.6% at around 8.7mln compared to August 2017, while its load factor inched up 0.1 percentage points to 96.4%