Apr 7, 2021

Ryanair damps hopes of breaking even this year due to faltering EU vaccine rollout

Ryanair damped hopes that it might break even this year, blaming a slow vaccine rollout across Europe. The no-frills airline narrowed its expected loss for the year ended March to between €800m and €850m before exceptional costs, from a previously guided range of €850m to €950m. Traffic for the year totalled 27.5m, down from 149m the year before, the airline said. For the current year, traffic is likely to be towards the lower end of a previously guided range of 80m to 120m passengers due to Easter travel restrictions and the slow EU rollout of Covid-19 vaccines, said Ryanair. Saga, the insurer and cruise line operator, posted a £61.2m pre-tax loss for the year ended January, which reflected £59.8m goodwill impairment against its travel business in the first half. The food packaging business posted a £66.9m operating profit for 2020, up 19.9 per cent year on year.

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