Ryanair are expecting passenger numbers to half in the current financial year warning they face a difficult year ahead.
The budget airline are expecting a €200m losses for the quarter to the end of June due to the global impact of the coronavirus impact.
They are also expecting a smaller loss in the second quarter due to a “substantial decline in traffic and pricing” over the grounding of flights.
This comes after Ryanair’s profits soared from the previous full year, with 10% increase in revenues to €8.4bn.
In a statement, Ryanair said, “Full year 2021 will be difficult for the Ryanair Group as its airlines work hard to return to scheduled flying following the Covid-19 crisis.
“As we look beyond the next year, there will be significant opportunities for Ryanair’s low cost, growth model as competitors shrink, fail or are acquired by government bailed out carriers.”