Ryanair recorded a loss of 355 million euros in the 12 months to March due to the pandemic, but stressed that it is impossible to accurately predict anything other than a hope of a return to “reasonable profitability” this year.
The Irish airline, which operates more flights than any other European airline according to air traffic regulator Eurocontrol, said it planned to increase its passenger traffic to 165 million passengers this year, up from 97 million a year ago and relation to the record level of 149 million pre-coronavirus.
However, Ryanair’s CEO said it was “impossible, if not impossible” to provide a reasonable or accurate range of earnings estimates at this time, given the potential continuing risk of war in Ukraine and the coronavirus for reservations.
“The recovery remains fragile,” he said.
The pre-emergency losses for the year amounted to 355 million euros, and were lower than the estimates for 370 million euros and compared to 1 billion euros in the previous year.
In March 2020, the airline had shown profits of 1 billion euros.
Source: Capital
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