ROMA – Ryanair recorded a loss of 815 million euros for the year ended March 31, compared to a profit of 1 billion euros the previous year. Traffic dropped 81% to 27.5 million, compared to 149 million the previous year. Revenues stood at 1.64 billion (-81%). The Covid-19 restrictions weigh on the results. However, the Irish company notes that bookings have increased significantly since April 1, with a “strong recovery in the second half of the year”. Although the visibility for the exercise remains “close to zero”, making it impossible to provide one guidance.
However, the group reiterated that traffic will remain in a range of between 80 million and 120 million passengers for the next financial year which ends in March 2022. “We are cautious in our prospects,” said CFO Neil Sorahan, “yes. it’s about getting their trust back among people. ” But Sorahan himself also expressed concern over an increase in Covid infections in India.
Ryanair then defined the year 2020-2021 as “the most challenging” of all its 35 years of history. But there are lights beyond the shadows of the pandemic: the airline expects to benefit from a major rebound in travel demand if, as is currently predicted, most Europeans are vaccinated by September. The leaders of the airline, in essence, think they can hope for a strong recovery in the second half of 2021.
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