Brief: Ryanair CEO: Expect to hedge 50% of next year's fuel, happy to take risk on remainder

Boeing

Mon 11:05

Nov 2 (Reuters) - Ryanair Holdings PLC RYA.I analyst call:
RYANAIR CEO: LESSORS WILL LIKELY REDPLOY EXCESS AIRCRAFT FROM ANY EUROPEAN AIRLINE FAILURES ELSEWHERE, NO RISK OF THEM REAPPEAING IN EUROPE NEXT YEAR
RYANAIR CEO: CERTAINLY WOULD NOT WANT TO HEDGE 80% NEXT YEAR IN CURRENT VOLATILE MARKET
RYANAIR CEO: THINK WE'RE GOING TO SEE OUR FUEL COVER NEXT YEAR PROBABLY UP AT AROUND 50% OR 50% FOR H1
RYANAIR CEO: I'D BE HAPPY ENOUGH TO TAKE A RISK ON THE OTHER 50% BEING UNHEDGED, ON BALANCE MORE LIKELY THAT OIL CRUDE PRICES WILL ROLL OFF FROM CURRENT HIGHS
RYANAIR CEO: TRIED TO GET MORE THAN 16 MAX 10 FROM BOEING NEXT SPRING BUT THEY DON'T HAVE ANY ADDITIONAL SPARE CAPACITY
RYANAIR CEO: BOEING ARE STILL STRUGGLING TO GET PRODUCTION UP, THE CHALLENGES WITH WINGS AND ENGINES
RYANAIR CEO: WE DON'T SEE ANY SIGNIFICANT OPPORTUNITY TO BUY CHEAP SECOND-HAND AIRCRAFT, STILL UNSATISFIED DEMAND FOR THESE
RYANAIR CEO: CURRRENT PAY AGREEMENTS WILL BE HONOURED AND ANY AGREED BY NEXT APRIL WILL NOT BE SUBJECT TO A PAY FREEZE
RYANAIR CEO: FARES HAVE REACHED AN INFLECTION POINT
RYANAIR CEO: SEEING MEANINGFUL MOVEMENT OF AIRFARES AT A TIME WHEN WE ARE USUALLY STIMULATING PRICES
RYANAIR EXECUTIVE: DO NOT SEE ANY DRAMATIC CHANGE IN ANCILLARY REVENUE TREND FOR REST OF YEAR
RYANAIR CEO: ONLY 50% OF Q3 SEATS SOLD SO FAR
Further company coverage: RYA.I

 (Reporting By Padraic Halpin)
 ((Padraic.Halpin@thomsonreuters.com;))