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Strong bookings keep Ryanair on course to hit targets, says CEO

Ryanair CEO sees 'very strong recovery', nudges up passenger target
Ryanair CEO sees 'very strong recovery', nudges up passenger target Copyright Thomson Reuters 2021
Copyright Thomson Reuters 2021
By Reuters
Published on Updated
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LISBON - Ryanair is on track to hit upgraded guidance on passenger numbers, carrying more than 10 million people this month as a post-pandemic recovery continues with strong bookings to year-end, Group Chief Executive Michael O'Leary said.

The Irish airline last month said it expected to fly between 90 million and 100 million people in the 12 months to the end of March 2022, against a peak of 149 million before the COVID-19 pandemic.

"Ryanair is recovering strongly, much faster than other any airline in Europe ... Bookings are increasing very rapidly," O'Leary told a news conference in Lisbon on Tuesday.

After flying 5 million passengers in June, representing a third of 2019 levels, numbers soared to 9.3 million in July and are expected to reach about 10.5 million in August, he added.

Ryanair shares rose 2.5% to 16.49 euros in early trading.

"Bookings for the remainder of this year, through September, October, November are looking very strong, but pricing is weak ... We are selling a lot of cheap seats to recover the market very quickly," O'Leary said.

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