Home Business NewsBusinessAviation News Ryanair slumps to mega loss

Ryanair slumps to mega loss

by LLB Editor
2nd Nov 20 9:09 am

The budget airline Ryanair has posted a loss for its key summer period for the first time in decades and warned that it may have to cut capacity further this winter as a second wave of Covid-19 infections sparks fresh lockdowns across Europe.

Europe’s largest budget airline reported a loss of €197 million for the first half of its financial year, versus profit of €1.15 billion in the same period last year.

Ryanair declined to forecast profit for the full financial year but said that it expected a second-half loss greater than the first.

Air traffic across Europe could be as much as 75 per cent lower than normal this winter “if EU governments continue to mismanage air travel and impose more uncoordinated travel restrictions”.

Leave a Comment

You may also like


Sign up to our daily news alerts

[ms-form id=1]