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lockdown losses Ryanair reports loss of €197m on the back of Covid-19 disruption

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Ryanair jets parked up on the runway of Dublin airport (Niall Carson/PA)

Ryanair jets parked up on the runway of Dublin airport (Niall Carson/PA)

Ryanair jets parked up on the runway of Dublin airport (Niall Carson/PA)

Ryanair has reported a loss of €197m for the six months to September 30.

Covid-19 grounded the group’s entire fleet from mid-March to the end of June, as governments across Europe imposed flight or travel bans and widespread population lockdowns.

Since July 1 it has resumed flights across most of its route network, operating up to 60pc of prior year capacity in three months to September 30 and achieving over 70pc load factors.

Ryanair carried 17.1 million passengers over the six months, down from 85.7 million in the same period last year.

Revenue for the six month period was €1.8bn, down 78pc on the corresponding year, according to interim results.

The low-fares airline managed to reduce its operating costs by two-thirds to €1.35bn.

The company said it is “well financed” to deal with the Covid-19 crisis.

Ryanair hopes to take delivery of its first Boeing MAX-200 in early 2021. Compensation discussions with Boeing will not be finalised or concluded until the MAX returns to service and revised delivery schedules can be finalised and agreed, the airline said.

Looking forward, Ryanair said the financial year 2021 will “continue to be a hugely challenging year” for the airline.

Given the current uncertainty it is unable to provide a profit after tax guidance for the year.

The group, which expects to record higher losses in the second half of the year, said its passenger numbers for financial year 2021 will be around 38 million

However, it warned this guidance could be further revised downwards “if EU Governments continue to mismanage air travel and impose more uncoordinated travel restrictions or lock downs this winter.”

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