Low cost airline Ryanair have reported a €185m loss after suffering their “most challenging” quarter in their 35-year history, with a second wave of the virus being their “biggest fear.”
Ryanair carried 500,000 passengers in the first quarter compared to 41.9m last year in the same quarter. Revenue plummeted to €125m from €2.3bn.
Ryanair said, “The past quarter was the most challenging in Ryanair’s 35-year history.
“Covid-19 grounded the group’s fleet for almost four months (from mid-March to end June) as EU governments imposed flight or travel bans and widespread population lockdowns.
“During this time, group airlines repatriated customers and operated rescue flights for different EU governments, as well as flying a series of medical emergency/PPE flights across Europe.”
Ryanair Holdings plc said, they are expecting air travel to be depressed in Europe for up to the next three years.