May 17, 2021

Ryanair: Signs of summer travel rebound

Europe's biggest budget airline revealed the scale of the coronavirus collapse in travel - an €815m loss and traffic down 81% in the year to March on the previous 12 months. The scale of the financial crisis facing airlines was underlined on Monday when Ryanair posted a record after-tax loss. The airline said it flew 27.5 million passengers in the year ending 31 March, down from 149 million the previous year. Ryanair's annual €815m loss was slightly better than an €834m loss forecast by many analysts. "It's better than we predicted, but still a fairly traumatic loss for an airline that has been consistently profitable for our 35-year history," Mr O'Leary said in a pre-recorded statement accompanying the results.

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