Only a traumatic event such as the pandemic could have folded Ryanair’s income statement, which in any case is rapidly recovering pre-crisis traffic volumes. The queen of low-cost airlines in Europe ended the first quarter with a loss of 273 million euros, up by 47% compared to the corresponding period of the previous year. But revenues grew by 196% to 371 million euros, thanks to a jump in passengers from 500,000 to 8.1 million, with an increase in the fill rate of planes from 61 to 73%.
Commenting on the data, CEO Michael O ‘Leary stressed the continuing effect of Covid, which forced the group to cancel most flights over Easter. It also weighed on “the easing of government restrictions slower than expected.” For the full year it is impossible, according to O’Leary, to make predictions, “due to travel restrictions that continue to generate uncertainty.”