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Airlines recover on revised Ryanair comments

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Airlines are crossing back into the green as morning headlines seem to be a exaggeration of what O'Leary actually said. Bloomberg now has "ticket prices could fall as much as 10% in 2Q, though will likely decline in the range of 5-9%yoy" (vs. c-9%). He doesn't expect yields in 2Q to decline in double digits and has "no visibility on 3Q". 2Q for Ryanair is 3m to Sept.

The sector leader reported a rough 3m to June - falling fares met by double digit cost increases left profit down 46%yoy. British Airways Parent, IAG, may have a shot at taking pole position on margins this year - alongside easyJet they were the only two to give good news last quarter. Still competitors are not immune to Ryanair's pricing in the market which is why we flag these updates.

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Airlines are crossing back into the green as morning headlines seem to be a exaggeration of what O'Leary actually said. Bloomberg now has "ticket prices could fall as much as 10% in 2Q, though will likely decline in the range of 5-9%yoy" (vs. c-9%). He doesn't expect yields in 2Q to decline in double digits and has "no visibility on 3Q". 2Q for Ryanair is 3m to Sept.

The sector leader reported a rough 3m to June - falling fares met by double digit cost increases left profit down 46%yoy. British Airways Parent, IAG, may have a shot at taking pole position on margins this year - alongside easyJet they were the only two to give good news last quarter. Still competitors are not immune to Ryanair's pricing in the market which is why we flag these updates.