Ryanair reports loss but nudges up passenger number forecasts

For the quarter ended June, Ryanair posted an after-tax loss of €272.6m, which was slightly better than the €283m consensus forecast. The airline said it expected to fly between 90m and 100m passengers in its financial year to March, up from earlier guidance of 80m to 100m. Management expects passenger numbers to improve rapidly from 5m in June to 9m in July and 10m in August. Ryanair reiterated to expect either break-even or small loss in the current year. Heathrow posted a half year pre-tax loss of £868m, taking its cumulative losses from Covid-19 to £2.9bn. The operator of London's main hub airport said passenger demand was increasing from historic lows, but testing requirements and travel restrictions "Are holding back the UK's economic recovery". Fund Management - Essential analysis on the global fund management industry.

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