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Ryanair Revises Forecast for Losses

Ryanair Revises Forecast for Losses

Ryanair Holdings plc expects to report a pre-exceptional loss of between €800-850 million for the year to March 31, 2021, which is an improvement on a previous forecast of a loss between €850-950 million.

The company announced that its full-year traffic was 27.5 million passengers, down from 149 million last year, but that its balance sheet remains strong with reserves of more than €3.15 billion. Last month, the airline carried 500,000 passengers – down 91 per cent on the same period in 2020 when it carried 5.5 million.

In a statement, the company said that travel restrictions and lockdowns, coupled with the “slow rollout in the EU of Covid-19 vaccines,” meant that FY22 traffic was likely to be at the lower end of the predicted forecast of between 80 million to 120 million passengers but it was optimistic of a breakeven profit guidance.

 

 

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Fionn Davenport is the editor-in-chief of the ITTN group, including ITTN and ITTN Ireland. He's one of Ireland's best-known travel journalists and writers, with nearly 30 years' experience writing guidebooks for Lonely Planet and others.

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