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Ryanair recorded a loss of 185 million euros in the second Corona quarter
Ryanair recorded a loss of 185 million euros in the second Corona quarter ;The low-cost airline Ryanair recorded a loss of 185 million euros in the second
Yazar: Zack Smith
Yayınlanma: 27 Temmuz 2020 17:42
Güncellenme: 20 Aralık 2024 00:16
Ryanair recorded a loss of 185 million euros in the second Corona quarter
The low-cost airline Ryanair recorded a loss of 185 million euros in the second Corona quarter. Now the summer should straighten with the increasing tourism. But there is also the fear of the second wave.
The Irish low-cost airline Ryanair recorded a loss of 185 million euros from April to June due to global corona restrictions. From the analysts' point of view, this is at least better than the expected 232 million loss. The past quarter was the most difficult in the airline's 35-year history, the airline said. In the same quarter of the previous year, Ryanair had generated a profit of 243 million euros. In view of the corona effects, the airline had already announced the loss of around 3,000 jobs.
Passenger numbers had dropped from 42 million in the previous year's quarter to 500,000 - a drop of 99 percent. Overall, Ryanair expects passenger numbers to decline by around 60 percent in the current financial year. Revenue collapsed due to the massive travel restrictions and amounted to 125 million euros, as the airline announced. In the same quarter of the previous year, it was still 2.3 billion euros.
70 percent in September
While flight operations had almost been discontinued at the time, analysts positively pointed out that a respectable occupancy rate of 60 percent had been achieved. In the second business quarter, which covers most of the important summer season, the loss is expected to be lower than in the past quarter, as air traffic has picked up again since July 1. Ryanair expects to service 40 percent of the normal flight schedule in July - 60 percent in August and 70 percent in September. The management around Ryanair boss Michael O'Leary still did not venture a profit forecast. O'Leary warned of a possible second corona wave in late autumn at the start of the annual flu season. "This is our greatest fear right now," he said You might also be interested in:Salary of Ryanair CEO Will Decrease by 50 Percent
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