Ryanair Loss Expected to Reach €950M Due to Travel Restrictions as Pandemic Persists
Feb 1 2021 · 12:20 UTC | Updated
Feb 1 2021 · 12:31 by Ibukun Ogundare · 3 min read
Photo: Pxfuel
Ryanair hopes that the vaccine rollout will eventually facilitate return to normalcy.
Ryanair Holdings Plc (NASDAQ: RYAAY) is expecting a net loss of up to €950 million in its 2021 fiscal year, which ends in March. Already, the company reported a net loss of €225.5 million in Q2 2020 and a further loss of €306 million in Q3 2020 which ended in December.
Ryanair Loss May Increase
On the 1st of February, Ryanair said its 2021 fiscal year would “continue to be the most challenging” in its 35-year history. The past and expected loss is due to travel restrictions issued by the governments amid the unprecedented global health crises. In 2020, governments tied airlines from operation for several months due to COVID-19. The recent increase in new COVID-19 cases has resulted in fresh lo