World, As Seen from the most beautiful islands: Ireland and Cyprus

Ryanair sees another set of challenges ahead

R

Ryanair has seen its profits evaporate in the last financial year and is also facing the necessary challenges in the current year. This was demonstrated on Monday by the Irish budget company’s report on the financial year which ran until 31 March.

The number of passengers carried decreased last year by 81 percent to 27.5 million, with a occupancy rate of 71 percent. The decrease in revenue from 81 percent to 1.64 billion euros resulted in a net loss of 815 million euros. A year earlier, the profit amounted to just over EUR 1 billion.

The airline sees that bookings are picking up strongly from 1 April, but due to possible blockades and travel restrictions it is not possible to give prospects for profit development in the current year.

Due to the slow roll-out of vaccinations in the European Union, Ryanair still expects the number of passengers to be transported this year to be at the bottom of the previously issued bandwidth of 80-120 million.

Ryanair also expects to come out near break even this year.

Ryanair expects it to be well positioned after the COVID period thanks to a much lower cost base, including fleet costs, and a strong balance. The airline had a cash position of EUR 3.15 billion on 31 March.

“This financial strength allows the company to take advantage of the many growth opportunities that will emerge after Covid-19,” the company said.

Add comment

World, As Seen from the most beautiful islands: Ireland and Cyprus

From Trinity st. to Limassol, Cyprus

Ireland and Cyprus have one thing in common. The most beautiful islands are divided. Even proportions are strikingly similar. Both nations strive for unity and a good glass of the news.

Recent Posts

Categories