Ryanair carried more passengers and generated revenue in the last quarter, but remained firmly in the red.
CEO Michael O’leary looks forward to September, when most adults in Europe are vaccinated. He expects a strong recovery in air traffic, as is already evident in domestic flights in the US.
Last quarter, the first quarter of the current financial year 2022, 8.1 million passengers were transported. That’s more than half a million passengers a year earlier in the same period. Occupancy rose from 61 to 73 percent.
This increase in the number of passengers also generated more revenue. It rose from 125 million to 371 million euros. However, operating costs also more than double to EUR 675 million, resulting in a net loss of EUR 273 million for Ryanair. In the second quarter of 2020, the loss amounted to 185 million euros.
For the time being, Ryanair does not consider it possible to issue an outlook for this financial year. However, society thinks that below the line there will probably be a small loss, or possibly even a break even result.