Ryanair (RYAAY) Rides Booking Boom with Expansion Plans and Profit Surge

Ryanair Holdings PLC. (NASDAQ:RYAAY) is one of the best airline stocks to buy according to hedge funds. On July 8, the airline reiterated that it is on course to recover most, but not all, of the 7% decline in average fares recorded last year.

That’s because the low-budget Irish airline is capitalizing on strong demand for travel this summer. The airline has seen strong booking trends, allowing it to benefit from rising ticket prices. Chief Executive Michael O’Leary is optimistic about the company’s after-tax profit for the first quarter ending in June, which is expected to double in line with the consensus estimate.

“Bookings into summer 2025 are strong, prices are rising,” O’Leary said. The executive has also downplayed the potential impact of heatwaves across Europe on the travel industry, insisting it is a temporary phenomenon.

Likewise, Ryanair plans to triple the number of passengers it carries from Modline airport in Warsaw to more than 5 million a year by 2030. Consequently, it is in the process of investing $400 million and doubling the number of aircraft based there.

Ryanair Holdings PLC. (NASDAQ:RYAAY) is an Irish low-cost airline group that provides scheduled passenger airline and cargo services. It is best known for its low fares and extensive route network across Europe, North Africa, and the Middle East.

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Disclosure: None. This article is originally published at Insider Monkey.