Ryanair Posts Impressive June 2024 Traffic Numbers

Ryanair Holdings RYAAY reported solid traffic numbers for June 2024, driven by upbeat air-travel demand.

The number of passengers transported on Ryanair flights was 19.3 million in June 2024, reflecting an 11% year-over-year increase. RYAAY's traffic in June was much more than the May reading of 18.9 million, April reading of 17.3 million and March reading of 13.6 million.

The June load factor (percentage of seats filled by passengers) of 95% remained flat sequentially as well as on a year-over-year basis. The figure was higher than the load factor of 92% reported in April 2024 and 93% reported in March 2024.

Notably, RYAAY operated more than 106,000 flights in June 2024. This marks an improvement from 105,000 operated flights in May 2024, 98,400 flights operated in April 2024 and 77,000 flights operated in March 2024. However, almost 400 flights got canceled due to the ATC (air traffic control) delays.

Ryanair continues to benefit from improved traffic growth. Traffic increased 9% in fiscal 2024. Management expects fiscal 2025 traffic to grow 8%, subject to Boeing deliveries returning to contracted levels before the year-end.

Zacks Rank and Stocks to Consider

RYAAY currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks for investors' consideration in the Zacks Transportation sector include SkyWest, Inc. SKYW and Trinity Industries, Inc. TRN. Each stock currently carries a Zacks Rank #2 (Buy).

SKYW flaunts a VGM Score of A and has a market capitalization of $3.28 billion. The Zacks Consensus Estimate for SKYW's 2024 earnings per share has moved up 6.9% in the past 90 days.

SKYW's expected growth rate for 2024 is more than 100%. SKYW has a trailing four-quarter earnings surprise of 128.09%, on average. 

TRN raised 2024 earnings per share guidance to the range of $1.35 to $1.55 (which excludes items outside of the company's core business operations) from $1.30 to $1.50 guided previously.

Over the past 30 days, the Zacks Consensus Estimate for TRN's 2024 earnings has been revised 2.7% upward. For 2024, TRN's earnings are expected to grow 8.70% year over year.

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