Business News 

Ryanair registers net losses while passenger numbers plunge

2nd November 2020

On Monday, the low-cost carrier said that it sank into a net loss in the first half of its financial year

The popular Irish low-cost carrier, Ryanair, revealed on Monday that it has carried 80 per cent fewer passengers over the first half of its financial year, and has registered a €196.5 million loss over the same period.

Ryanair said that 17.1 million people used the airline in the six months to September, compared to 85.7 million when compared with the same period last year.

The airline’s losses this year can be compared with €1.15 billion profits generated during the same period in 2019. Revenues have also plunged to €1.1 billion, compared to a previous €5.3 billion.

It warned that losses are likely to worsen.

During the period under review, air travel around the world had been virtually halted as countries ramped up measures to contain the spread of COVID-19.

When flights returned, Ryanair said passenger confidence and pre-bookings “were negatively impacted by the return of uncoordinated EU Government flight restrictions in September and October, which heavily curtailed travel to and from much of Central Europe, the UK, Ireland, Austria, Belgium and Portugal”.


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Ryanair registers net losses while passenger numbers plunge