Ryanair reported its first ever loss for the months of April, May and June with passenger numbers down by 99%.
The low-cost airline posted an after-tax loss of e185m – a narrower than expected downturn in the fiscal quarter decimated by Covid-19.
Group chief Michael O’Leary said given the “current uncertainty” Ryanair could not provide any profit after tax guidance for the financial year to March 2021.
- Guinness Storehouse No 1 tourist attraction in Europe – ahead of Buckingham Palace and Eiffel Tower!
- Minister launches the Substation at Dublin Port
- Freestyle fun as world record tumbles at Ballymun United
- Shane Filan leads ‘Relay for Life’ in the Aviva Stadium
- Women in Dublin urged to register for free heart health webinar
“A second wave of Covid-19 cases across Europe in late autumn (when the annual flu season commences) is our biggest fear right now,” he added.
The carrier said the quarter, in which passenger numbers plummeted and the majority of its fleet was grounded, was “the most challenging in Ryanair’s 35-year history”.
Revenue was down 95% to €125m while costs were down by 85%, it said.
But it said its cash burn had effectively ended as it moved from a skeleton service to flying around 40% of its usual schedule by the end of May.
- Guinness Storehouse No 1 tourist attraction in Europe – ahead of Buckingham Palace and Eiffel Tower!
- Minister launches the Substation at Dublin Port
- Freestyle fun as world record tumbles at Ballymun United
- Shane Filan leads ‘Relay for Life’ in the Aviva Stadium
- Women in Dublin urged to register for free heart health webinar
