Low-cost airline Ryanair reports a decrease in sales and turned into a loss during the 2020/2021 financial year compared to the same period the previous year. The corona pandemic has had a major impact on the company during the year.

Sales fell 80.7 percent to EUR 1,636 million (8,495).

The operating profit was EUR -839.4 million (1,127.4). 

The result after tax was -815.4 million euros (648.7). Ryanair had previously guided for a loss of between 800 and 850 million euros.

The outlook for the current financial year remains uncertain due to COVID-19 and related travel restrictions, Ryanair writes. Traffic is said to be ”severely limited” to 5-6 million guests in the first quarter. However, the company also points out that bookings have increased sharply since the beginning of April, indicating that a recovery may already be underway.

Ryanair predicts a strong recovery in business aviation, jobs and tourism in the second half of the current financial year, assuming the majority of the European population is vaccinated by September.

Source: finwire