Ryanair Holding shares rallied on Thursday, as the low-cost carrier lifted its five-year passenger traffic target ahead of its annual shareholder meeting.
Ryanair
RYA,
RYAAY,
shares rose 6% as the airline said it expects to reach 225 million annual travelers by 2026, above its previous target of 200 million. Ryanair CEO Michael O’Leary said the performance of its Boeing
BA,
Dreamliners has exceeded expectations, and that the airline would “take up slot opportunities that are being vacated by competitor airlines who have collapsed or significantly reduced their fleet sizes.”
Last week, Ryanair ended talks with Boeing over an order of MAX10 aircraft.
Ryanair’s rivals also gained ground, with easyJet
EZJ,
shares rising 4% and Wizz Air Holding
WIZZ,
gaining 3%.
The broader Stoxx Europe 600
SXXP,
rose 0.7% to 467.05 in midday trade.
Continental
CON,
powertrain spinoff Vitesco Technologies climbed 3% in its trading debut.
This post was originally published on Market Watch
