Irish low-cost carrier Ryanair suffered a loss of € 321 million in the last quarter of last year. In addition to a loss of 306 million euros, a direct result of the corona crisis, the airline also lost 15 million euros on a write-off on fuel contracts.
Ryanair’s loss is not an isolated one. Airlines worldwide are under severe pressure from virus fears, travel restrictions, and other measures to prevent the corona virus’s further spread.
Ryanair also grounded a large part of its fleet during the crucial end-of-year period. Aircraft that did fly were also less full. The number of passengers fell by 78 percent on an annual basis to 8.1 million travellers.
Total revenue in the closing quarter of 2020, the third quarter of Ryanair’s fiscal year, decreased by 82 percent to 340 million euros. In the same period a year earlier, before the crisis, Ryanair posted a turnover of 1.9 billion euros. This left a profit of 88 million euros.
For the entire financial year, Ryanair is expecting a loss of 950 million euros. In addition, the airline will have transported between 26 million and 30 million travellers. That is less than the 35 million previously taken into account. This is mainly due to even stricter measures taken in various European countries.
According to Ryanair, it remains uncertain what the situation will look like shortly. The company hopes for a gradual recovery in demand, depending on the pace of vaccinations. In the largest market, the United Kingdom, this is somewhat faster than in the European Union.