You are still counting down for the low-cost airline Ryanair: between April and June, in the first quarter of fiscal year 2020, the loss has worsened, moving to 273 million euros: in the same period of 2020 the loss was 185 million, 283 million euros less than what analysts predicted. Several factors weigh on the company budget: fares still low, high costs due to restrictions, too many uncertainties about travel safety, especially outside national borders.
The same company reported that the net loss increased by 47% in one year during the quarter. In particular thenet debt it went from € 2.28 billion at March 31 to € 1.66 billion at June 30. The cash reserves they amounted to 4.06 billion euros, up from 3.15 billion at the end of March. The traffic in the last quarter it rebounded from 0.5 to 8.1 million thanks to the recovery of capacity in May and June. The enter from passengers were up to 191.9 million euros, while revenues from ancillary services were 178.6 million euros, for total operating revenues of 370.5 million euros. Overall, the turnover almost tripled to 371 million euros.
“Based on current bookings, we expect traffic to increase from over 5 million in June to nearly 9 million in July and over 10 million in August, provided there are no further Covid setbacks in Europe,” the CEO Michael O’Leary. “We will continue our active load / passive return strategy as we recover load factors over the course of fiscal year 2022,” concluded the CEO.
Signs of optimism for the close of the financial year (end of March 2022): the Irish company has made it known that it expects a overall traffic between 90 and 100 million passengers: up from previous forecasts of 80-100 million.