Ryanair reported on Monday an after-tax loss of 185 million euros ($216.54 million) for the three months to June 30 after COVID-19 reduced traffic by 99%, and the airline said it was impossible to say whether it might turn a profit this year.
) reported on Monday an after-tax loss of 185 million euros for the three months to June 30 after COVID-19 reduced traffic by 99%, and the airline said it was impossible to say whether it might turn a profit this year.
FILE PHOTO: A man stands at a Ryanair check-in desk at Josep Tarradellas Barcelona-El Prat airport, amid the spread of the coronavirus disease , in Barcelona, Spain, July 26, 2020. REUTERS/Albert GeaThe Irish low-cost carrier, Europe’s largest, said the quarter, in which passenger numbers were down by around 99%, was “the most challenging in Ryanair’s 35-year history”.“Given the current uncertainty, Ryanair cannot provide any FY21 profit after tax guidance at this time,” it said in a statement.
At the end of the quarter, on July 1, Ryanair moved from a skeleton service to flying around 40% of its usual schedule. It hopes to fly 60% of its normal schedule in August and 70% in September and expects to post a smaller loss in the current quarter. Ryanair shares closed on Friday at 10.91 euros, down 25% since the start of the year. That is worse than Hungarian budget rival Wizz (
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