Ryanair's net loss is over 47%

Created on 05.08.2021 08:41

The Irish airline Ryanair is expected to be incurred by 272.6 million euros in the first quarter of fiscal year 2022, a 47% increase since the same period of 2021 fiscal year. At the same time, the annual passenger traffic has been increased from 0.5 million to 8.1 million persons due to the capacity in May and June, Kursiv.kz writes.

The company noted that travel restrictions have increased uncertainty due to Covid-19 for the next fiscal year, and it is impossible at this time to assess the impacts of the situation owing to incomplete information. However, a significant booking recovery is seen in the second quarter, but still well below pre-COVID-19 levels. Successful outcomes depend on the continued implementation of the vaccine this summer and the absence of worst-case scenario.

The company also stated that Covid-19 has impacted on other companies, including Alitalia, TAP, LOT, SAS. Public assistance from the European governments to their insolvent air carriers (Alitalia, Air France / KLM, LOT, Lufthansa, SAS, TAP and others) would distort competition in the EU by keeping the high cost of transportation for many years, according to the air carrier's representatives.

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