May 16. Ryanair (RYA.I) said on Monday it was impossible to give detailed 2022 guidance beyond hoping for a return to “reasonable profitability” amid uncertainties over COVID-19 and the Ukraine war, knocking its shares despite a smaller annual loss.
Europe’s largest airline by passenger numbers also became the latest Boeing (BA.N) customer to criticize the plane maker. Chief Executive Michael O’Leary said its management needed to step up and deliver aircraft more quickly or make way for a new team.
Ryanair posted a 355 million euro ($369 million) loss for the pandemic-scarred 12 months to March 31 and said it planned to grow traffic to 165 million passengers this year, from 97 million a year ago and a pre-COVID-19 record of 149 million.
However, O’Leary said it was “impractical, if not impossible” to provide a sensible or accurate target until the second half of its fiscal year.
He added that while bookings had improved in recent weeks, he was a little concerned that competitors were talking up the summer recovery too much and that caution was needed heading into a winter with an expected economic downturn.
“It’s too fragile, there remains too many moving parts,” O’Leary said, adding that Ryanair would nevertheless thrive if any of its markets dip into recession due to its lower cost base.