Ryanair board approves accelerated post coronavirus growth, raises five year forecast

Ryanair stated (16-Sep-2021) it held its AGM, and based on proxy votes, Shareholders have approved all resolutions and will receive a detailed update on the airline group's post coronavirus recovery plans over the next five years. Subject to no adverse coronavirus developments, and vaccinations remaining at 90%+ across Europe, Ryanair will take delivery of 210 Boeing 737 aircraft over the next five years. These aircraft will enable Ryanair to accelerate its post coronavirus growth, as opportunities open up at primary and secondary airports across Europe, in particular where legacy carriers have failed or reduced fleet sizes as a result of coronavirus and state aid. Ryanair Group airlines now expect to deliver more rapid traffic growth over the next five years, and have raised their five year growth forecast from 33% to 50%. As a result, Ryanair's pre-coronavirus traffic of 149 million is expected to grow to more than 225 million guests by Mar-2026, which is 25 million passengers p/a higher than the previous target of 200 million. Ryanair Group CEO Michael O'Leary stated: "With these new deliveries, Ryanair will open 10 new bases across Europe this year as we work with airport partners to help them recover traffic & jobs post COVID, and take up slot opportunities that are being vacated by competitor airlines who have collapsed or significantly reduced their fleet sizes". [more - original PR]