Ryanair posts full-year loss

Friday, 17 May, 2021 0

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.

TravelMole Editorial Team

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.

AXA Assistance specializes in best-in-class cost containment, health and travel services. Over 60 years of experience combined with a US and...

If you’re thinking of cruising, there’s a very good chance you’re considering a Carnival cruise. Growing since our founding in...

WANDERERS WELCOME to MISSISSIPPI Mississippi is a state for all those who are wanderers at heart. From lush, forested Appalachian foothills to...

Atout France guides and supports the French regions with their development strategy and helps set up investment projects in order...

Nium was founded on the mission to build the global payments infrastructure of tomorrow, today. With the onset of the on-demand...

With long periods of Thailand’s History, according to evidences and studies, Sukhothai was the first kingdom of Thailand. At that time, an early Thai...

Consisting of the three Maritime provinces of New Brunswick, Nova Scotia, and Prince Edward Island as well as Newfoundland and...

Blue Diamond Resorts consistently goes above and beyond guest expectations by delivering groundbreaking vacation experiences through our exceptional collection of...

We are a small-group adventure travel operator offering more than 750 tours in 100 countries, on all seven continents. Our...

Destination British Columbia (Destination BC) is a Provincially funded, industry-led Crown corporation that supports a strong and competitive future for BC’s...

Queensland – where it’s rude not to stare Here in Queensland, there’s plenty to do. But there’s even more to...

It’s easy to find perfection in Santa Barbara, but what if there was even more of your favorite finds, activities,...

Palladium Hotel Group is a renowned Spanish hotel chain that first emerged towards the end of the 1960s. Currently present...

Cunard is the operator of luxury cruise ships Queen Mary 2®, Queen Victoria® and Queen Elizabeth®. Renowned for impeccable White...

The Mexico Tourism Board serves as the driving force behind Mexico’s global appeal, orchestrating targeted marketing campaigns to showcase the...

Virtuoso is the leading global network of agencies specializing in luxury and experiential travel, with more than 20,000 advisors. We...

Arival advances the business of creating amazing in-destination experiences. We provide events, insights, and community for creators and sellers of...