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.”

Related

Ryanair

Ryanair announces Winter 2023 schedule cuts caused by major Boeing delivery delays

September 28, 2023
by Anthea Cachia

The airline was set to receive 27 aircraft between September and December but will now only receive half

World’s most popular search engine, Google, turns 25

September 27, 2023
by Anthea Cachia

In one way or another, Google has become an influential factor in the operations of everyday life

That’s all folks! Netflix officially marks the end of its DVD-mailing era this week

September 26, 2023
by Anthea Cachia

The rental system was meant to last around four to five years, but instead it went on for 25 years