Ryanair initiated with an Overweight at Barclays

Barclays initiated coverage of Ryanair with an Overweight rating and EUR 23 price target. The analyst has a positive stance on European airlines. Pent-up demand and the re-opening of Asia and business travel should "overpower weak economics," the firm tells investors in a research note. It adds that moderating disruption and productivity benefits will mitigate inflation pressures.