BUDGET airline Ryanair said the period from March to May this year was the worst the company had ever endured in its history as it named what it fears most in the coming months ahead.
The bouncy ride ahead to recovery
Ryanair has revealed its biggest fear and it’s not fuel prices, cabin crew strikes or even the latest quarantine rules, it’s the devastating thought of a second wave of the coronavirus that has the company gripping on to the seat in front.
The Irish cut-price carrier said it suffered the “most challenging” quarter in its 35-year history as it reported a loss of €184 million. The low-cost airline, like its competitors, was forced to ground its fleet as Covid-19 wreaked havoc on timetables with travel bans and lockdowns introduced worldwide.
Revenues, Ryanair revealed, came in at €125m following sales of €2.3bn in the same quarter last year. The bulk of its sales in the period came from repatriation and medical flights on behalf of EU national governments, with just 500,000 passengers carried compared with €41.9 million.
Ryanair, which had initially gone to court with rivals BA and easyJet to challenge early UK quarantine plans, said it was “regrettable” the UK government had reimposed 14-day periods of isolation on travellers arriving from Spain. The company confirmed it had no current plans to reduce the frequency of flights to and from Spain.
Ryanair restarted meaningful services on July 1 and said it expected to operate approximately 40 per cent of its normal July schedule, rising to around 60 per cent in August and 70 per cent in September. The company refused to give financial guidance for the year given that the skies ahead remain clouded by uncertainty, turbulent times could still lie ahead for the company. TW