Jun 5 2024
Transport
Recent Research
Wizz Air Holdings, In the black again
May 23 2024
easyJet, Measured outlook statement
May 16 2024
IAG, Q1 profitable; outlook unchanged
May 10 2024
Meet your Transport Research team
Jet2 plc
Holiday leader
We view Jet2 as Ryanair’s younger sibling in the holiday space – it has a strong balance sheet with a net cash position, a healthy order book out to the start of the next decade at...
Wizz Air Holdings
In the black again
Wizz Air reported profitability of €365.9m, in line with net income guidance (€350-370m), with initial FY25 guidance of €500-600m (Davy: €527m). Our sense is that the lingering GTF engine...
Ryanair Holdings
Record year; cautious outlook; €700m buyback
Ryanair delivered a record year with net income of €1917.1m (Davy €1915m, consensus €1905m) and with the outlook showing some yield moderation. However, cashflows are huge and the initial...
Irish Continental Grp
Further statement of intent on Dover-Calais route
Irish Continental Group (ICG) has added a larger ship for the Dover-Calais route that, when combined with the space chartering agreement with P&O, will offer customers a sailing every...
IAG
Q1 profitable; outlook unchanged
IAG, uniquely among network airlines, was profitable in Q1 with €68m operating profit (consensus €48m; 2023 €9m) and continues to deliver. Outlook for the full year is unchanged. Net...
Irish Continental Grp
Good volumes to start of May
Irish Continental Group (ICG) has seen a strong start to the year. Consolidated group revenue in the period was €177.0m (2023: €163.4m), an increase of 8.3% compared to last year...
Wizz Air Holdings
Post-close trading update
Wizz Air expects to report net income in the range of €350- €370m for the full year, in line with guidance (previously €350-400m, Davy €348m). Wizz will report FY results on May 23rd.
Norwegian Air
Making progress
Norwegian delivered significant losses for the usual Q1, with EBIT excluding other losses/(gains) of NOK637m (consensus -NOK528m, -NOK886m last year), impacted by negative FX revaluation...
Hostelworld
FY23 in line, outlook reads positively
Hostelworld delivered FY23 numbers in line with the guidance provided at its post-close stage and our forecasts. The group performed strongly in 2023, growing revenues and market...
Network airlines
Airline presentation “Supply playing catch-up to demand”
This summer will be the fifth since the beginning of COVID, so hopefully we are finally passing that reference point. Balance sheets have been largely repaired and earnings have...
