Ryanair : Race for market share set to be dilutive short term – Neutral vs Outperform
>Faster return of capacity to dilute yields - For the year to end-March 2022, we anticipate a net loss of € 204m (lower end of guidance range between -€ 200m and -€ 100m and vs a consensus of around -€ 150m). Although the return of capacity will gather momentum with the restoration of the equivalent of 100%e and 120%e of 2019 seats in Q3 and Q4 respectively (vs 83% in Q2 and 26% in Q1), we think that the efforts to stimulate demand (accentuated by a still very short-t...Ryanair Holdings is a holding company. Through its subsidiaries, Co. operates an ultra-low cost, scheduled-passenger airline serving short-haul, point-to-point routes between Ireland, the U.K., Continental Europe, and Morocco. Co. offers over 2,000 scheduled short-haul flights per day serving approximately 210 airports throughout Europe, and flying approximately 1,600 routes. In addition, Co. provides various ancillary services and engages in other activities connected with its core air passenger service, including non-flight scheduled services, Internet-related services, and the in-flight sale of beverages, food, and merchandise.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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