0840 GMT - Ryanair's effectively debt-free balance sheet, unrestricted aircraft fleet, large order book and strong market position overall will lead to a widening cost advantage over its competitors, Davy Research analysts Stephen Furlong and Ava Costello say in a research note. The carrier posted first-quarter results slightly below estimates and a somewhat muted outlook. However, the analysts say they aren't surprised given the market is a little softer this summer. "We expect significant market capacity pullbacks this winter," they say. Reflecting the weaker revenue results, Davy Research cuts its estimate for fiscal 2027 profit after tax to around 1.88 billion euros from 1.92 billion euros. Nevertheless, the analysts say Ryanair is perfectly positioned for a tough environment. Shares trade 6.1% lower at 24.37 euros. (nina.kienle@wsj.com)
(END) Dow Jones Newswires
July 20, 2026 04:40 ET (08:40 GMT)
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