Dublin-based airline operator Ryanair Holdings (RYAI) has upgraded 2022-23 profit guidance. It still expects 168 million passengers up until March 2023.
There was strong travel demand over the Christmas/ New Year holiday season, and this pushed up prices. There was no setback relating to Covid in the latest quarter.
There were 11.5 million passengers, up from 9.5 million in the previous third quarter. The load factor improved from 81% to 92%. The third quarter profit after tax is expected to be €200m.
Even so, Ryanair expects the fourth quarter to be loss-making because Easter is not included this year. There has also been a softening in UK and Irish traffic and pricing.
Profit after tax guidance has been raised from the previous range of €1bn to €1.2bn to €1.325bn to €1.425bn.
The third quarter figures will be published on 30 January.
The share price rose by 2.17% to €12.8225. The share price has fallen by 17% over the past year.