Ryanair traffic hits new record in August, up 12% year on year

FILE PHOTO: A Ryanair Boeing 737 aircraft approaches Paris-Beauvais airport in Tille

DUBLIN (Reuters) - Ryanair flew 12% more passengers in August than in the same month last year, it said on Monday, its latest all-time traffic record in what is typically its busiest month.

Europe's largest airline by passenger volume said it flew 18.9 million passengers in August, up from 16.9 million a year earlier and up from 14.9 million in August 2019, before the COVID-19 pandemic hit.

It achieved its previous record, 18.7 million passengers, in July.

The Irish airline has said it expects traffic in the financial year to March 2024 to grow by 9%, to around 183.5 million passengers.

Analysts at Citi reiterated a 'buy' rating for the airline in a note following the release of the passenger data, saying it sees the airline as a "market share consolidator in Western Europe, with growth potential in Eastern Europe".

(Writing by Conor Humphries; editing by Jason Neely)