Ryanair Narrows FY22 Loss Outlook Range - Ryanair Hldgs (NASDAQ:RYAAY)

Ryanair Holdings plc RYAAY updated its FY22 Outlook and now expects a pre-exceptional net loss of €(350) million - €(400) million (previously guided loss range €(250) million - €(450) million).
Ryanair Group’s full-year traffic recovered to over 97 million versus 27.5 million in FY21 and below pre-Covid traffic of 149 million.
Ryanair’s year-end (March 31) net debt dropped to €1.5 billion (prior year €2.3 billion), and c.90% of the Group’s fleet of B737 aircraft are unencumbered.
Since January 31, 2022, Ryanair has increased FY23 fuel hedging to 80% cover (c.65% jet swaps at $630 and 15% caps at $775 per metric tonne).
Ryanair noted that almost 10% of its H1 FY24 fuel requirements are hedged at $760 (via jet swaps).
RYAAY operated over 67,800 flights in March with an 87% load factor. March traffic rose to 11.2 million guests versus 0.05 million last year.
Price Action: RYAAY shares are trading higher by 1.51% at $89.94 on the last check Monday.