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Neil Sorahan
Ryanair Group (CFO)
First call on the ledger
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else is a labeled paraphrase. Every call links its original source. Before you trust the call, check the record.
Where they stand
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He predicts 'a shakeout in capacity in Europe as a result of what's going on in the Middle East' @1:19: rivals lack Ryanair's cost base and balance sheet, while Ryanair is 'now effectively debt free' after paying down a $1.2B bond in May @1:29. Confirms to the host that failures means bankruptcies but says he is not interested in buying other airlines @1:58.
“So I think once you get into the kind of winter period, some of the weaker carriers are going to find it very difficult and we may see some failures over the next number of months”
Logic: 'you're going to see capacity coming out of the market. M&A is continuing across Europe. There's going to be failures.' @3:28. Whisper garbles 'on further' (likely 'on fares') and 'pricing way and that's up'; the directional meaning: fares biased higher as capacity exits: is clear from the exchange on pricing.
“That means there's more risk to the upside than the downside on further. So I think when you kind of look beyond this year into next year and beyond pricing way and that's up”
Built on 300 MAX-10s 'due to start delivering from January of next year' @2:17, bought at COVID prices. Near-term guidance on tape too: 'We'll grow overall by about 4% this year to 216 million passengers' @1:10.
“That's going to see us grow to 300 million passengers per annum over the next decade. So by March 2034, we'll be carrying over 300 million passengers across Europe every year.”
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