1006 GMT - Ryanair finished off 2024 with higher fares and strong close-in bookings--those within about two weeks of departure--for the Christmas and New Year period. These metrics serve as a good sign for the state of travel demand, JPMorgan analysts say in a research note. Average fares grew 1% in the quarter, outperforming JPM's estimate of a 3% decline in ticket prices. The bookings and pricing momentum in the third fiscal quarter was clearly better than in the summer, the analyst says. This performance contrasts the pricing outlook for the fourth quarter of the fiscal year, which is expected to be weak due to the timing of Easter. Shares trade around 5% higher at 20.73 euros. (pierre.bertrand@wsj.com)
(END) Dow Jones Newswires
January 27, 2025 05:06 ET (10:06 GMT)
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