Ryanair

Low-budget airline Ryanair reported on Monday that in Q3 2020 it suffered a loss of €306 million, but maintained that it expects its European expansion plans to continue.

Ryanair saw traffic collapse between October and December, capping off “the most challenging year” in its 35-year history.

Passenger numbers plummeted 78 per cent in the period when compared to the same the year before.

In their earnings statement, the airline explained that December was an especially bad month for passenger numbers, with the new UK travel restrictions that emerged after the discovery of a new COVID strain in the country seeing passenger traffic fall 83 per cent against the same month in 2019.

However, Ryanair continues to plan for expansion. In December, the airline increased its order for Boeing 737-8200 aircraft by 75, to 210.

The airline also said that it had secured seven passenger flight slots at Stanstead airport following easyJet’s retreat from the airport. 

Speaking to BBC Breakfast, the airline’s chief executive, Michael O’Leary made clear the industry would rebound, saying that there was “extraordinary pent-up demand” for flights.

“As [it] looks beyond the Covid-19 crisis”, the airline said it “expects to have a much lower cost base and a strong balance sheet, which will enable it to fund lower fares”.

It said that it expects to be able to capitalise on growth opportunities, “especially where competitor airlines have substantially cut capacity or failed.”

The Body Shop’s fair-trade suppliers might be left in limbo after collapse of UK company

February 19, 2024
by Anthea Cachia

The company is known of its standards of ethical, fair trade and cruelty free products

Ever wonder how many videos are on YouTube? Researchers reveal it’s a whopping 14 billion

February 10, 2024
by Robert Fenech

The way YouTube is used makes it most aptly described as infrastructure, say researchers

European Parliament to establish TikTok presence despite app’s ban on corporate phones

February 7, 2024
by Anthea Cachia

The Parliament is adopting this approach to fight disinformation and get the message across, while retaining cyber security