Ryanair posts full-year loss
Ryanair posted its full-year financials, showing a loss of €815 million as passenger traffic slumped 81%.
It handled 27.5 million passengers in the year to 31 March, compared to 148.6 million a year earlier.
The past year has been the most challenging in its history, due to flight bans, travel restrictions and national lockdowns, the airline group said.
The mini-recovery of summer 2020 was short-lived after the first lockdowns eased, but a second Covid-19 wave in Europe followed quickly in the autumn.
Ryanair said it boosted ancillary revenue on a per passenger basis, resulting in an 11% increase in spend to almost €22.
It focused on preserving liquidity and had €3.15 billion in cash at 31 March.
Due to much lower passenger traffic and cuts in fuel and staff costs, overall operational costs were down two-thirds to €2.48 billion.
The group says FY22 will continue to be challenging, and is therefore ‘impossible to provide meaningful FY22 guidance.’
However passenger traffic is likely to be towards the lower end of a previously guided range of 80 million to 120 million passengers.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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