European airlines lifted after Ryanair H1 results and pricing comments

Sas AB

06/11/2023 09:24

** Shares in some European airlines rise on Monday, boosted
by "strong" H1 results from Ryanair  RYA.I  and upbeat comments
on pricing power 
    ** The STOXX Travel and Leisure index  .SXTP  rises about 1%
and is the best performing sub-index on the pan-European STOXX
600  .STOXX  index
    ** Ryanair  RYA.I  forecast a record annual profit after air
fares soared 24% during the summer season -- its stock is up
6.7%
    ** Ryanair said it expects Q3 average fares to be higher
than in the same period a year earlier, "by a mid teens
percentage"
    ** "The whole sector gains confidence from Ryanair
disclosure that it sees Dec qtr fares up mid teen %," says
Andrew Lobbenberg from Barclays 
    ** "Ryanair reported a strong H1 results this morning and
has pointed to robust demand and pricing growth into the winter
period and next summer," says James Goodall from Redburn 
    ** "Given the fears over a potential roll over in demand,
the bullish commentary is supporting the wider sector," Goodall
adds
    ** The loss of pricing power into the winter was one key
concern for investors in the travel sector
    ** easyJet  EZJ.L  rises about 3.7%, Wizz Air  WIZZ.L  is up
2.9%, Air France-KLM  AIRF.PA  rises 2.5%, while British
Airways-owner IAG  ICAG.L  and Scandinavian Airlines  SAS.ST 
edge up around 1%


 (Reporting by Olivier Sorgho)
 ((Olivier.Sorgho@thomsonreuters.com))