Ryanair Holdings PLC (LSE:RYA) got a forecast update from Deutsche Bank after Monday’s quarterly results.
Analysts now expect a net loss of EUR204mln compared to the airline’s guidance of EUR100-200mln and previous estimates of EUR21mln.
“Our forecasts assume similar ex-fuel unit costs and ancillaries per passenger for the second half to those achieved in the second quarter, meanwhile we are looking for an improvement in fares per pax from -31% vs pre-crisis in the second quarter to -15% in the second half,” the German bank commented.
Deutsche Bank holds a ‘buy’ recommendation with a EUR20 target price.
Shares rose 3% to EUR17.60 on Wednesday before close.