Ryanair posts full-year loss - TravelMole


Ryanair posts full-year loss

Saturday, 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.



 

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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.



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