By Anthony O. Goriainoff
Ryanair Holdings said that it cancelled almost 950 flights in March due to disruption from the Israel-Hamas war, as the conflict continues to hit the airline's operations in the region.
The Irish budget airline said Wednesday that it operated more than 77,000 flights in March, with passenger numbers up 8% on year to 13.6 million. Its load factor--a measure of how full a plane is--was flat at 93%.
The airline has now cancelled around 5,430 flights since Hamas's Oct. 7 attack and operated more than 447,300.
While the Israel-Hamas war has weighed on other airlines' operations in the region, it is rare for carriers to quantify the impact. A notable exception was Air France-KLM, which in February said that geopolitical turmoil in the Middle East and Africa, where a number of countries experienced military coups, had wiped out 65 million euros ($70 million) from its operating result in the fourth quarter.
Ryanair has carried 183.7 million passengers over the 12 months to the end of March compared with 168.6 million for the comparable period a year earlier, and slightly more than its previous forecast of 183.5 million.
It expects to make a post-tax profit for the year ended March 31, 2024, of between EUR1.85 billion to EUR1.95 billion.
However it has previously said these forecasts are dependent upon avoiding adverse events such as the Ukraine war, the Israel-Hamas conflict and further Boeing delivery delays.
Shares at 0805 GMT are up 24 European cents, or 1.2%, at EUR20.77. They are currently up 43% over the past 12 months.
Separately, eastern Europe-focused budget airline Wizz Air Holdings reported a 12% rise in passengers for March and said that it has restarted operations to Tel-Aviv, Israel, from six bases. It plans further routes to resume throughout April, May and June.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
04-03-24 0453ET
