News

Ryanair Revises Forecast for Losses

Ryanair Revises Forecast for Losses

Ryanair Holdings plc expects to report a pre-exceptional loss of between €800-850 million for the year to March 31, 2021, which is an improvement on a previous forecast of a loss between €850-950 million.

The company announced that its full-year traffic was 27.5 million passengers, down from 149 million last year, but that its balance sheet remains strong with reserves of more than €3.15 billion. Last month, the airline carried 500,000 passengers – down 91 per cent on the same period in 2020 when it carried 5.5 million.

In a statement, the company said that travel restrictions and lockdowns, coupled with the “slow rollout in the EU of Covid-19 vaccines,” meant that FY22 traffic was likely to be at the lower end of the predicted forecast of between 80 million to 120 million passengers but it was optimistic of a breakeven profit guidance.

 

 

Click to add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Fionn Davenport is the editor-in-chief of the ITTN group, including ITTN and ITTN Ireland. He's one of Ireland's best-known travel journalists and writers, with nearly 30 years' experience writing guidebooks for Lonely Planet and others.

More in News

Coronavirus Incidence Rate in Spain Falls to Lowest Level Since August

Aileen O'ReillyJune 18, 2021

“Thousands of Staff Needed” as Irish Hospitality Sector Looks at Swinging Open its Doors Again

Aileen O'ReillyJune 18, 2021

Don’t Travel If You’re Not Fully Vaccinated” Warns Dr. Tony Holohan

Aileen O'ReillyJune 18, 2021

New European Travel Guidelines to Ensure Lengthy Queues are Avoided

Aileen O'ReillyJune 18, 2021

Paul Hackett Confirmed as Irish Travel Agents Association President and Calls on Government To Support The Travel Sector Until The End Of 2022

Aileen O'ReillyJune 18, 2021

Ryanair To Sue UK Government Over “Unpredictable” And “Non-scientific” Traffic Light System.

Aileen O'ReillyJune 17, 2021

Government Row Erupts Over Failure To Implement Rapid Antigen Testing Among Airline Passengers.

Aileen O'ReillyJune 17, 2021

Easyjet To Launch Gatwick Service From Belfast City Airport From July 9th.

Aileen O'ReillyJune 17, 2021

81% Of Europeans Indicate They Are Ready To Get vaccinated In Order To Travel Again

Aileen O'ReillyJune 17, 2021

Copyright © 2021 ittn