Ryanair Posts 226-Million-Euro Loss in Q2 as Pandemic Wears On

By dpa, Berlin

Source dpa, Berlin

Nov. 3, 2020

Nov. 2—DUBLIN — Budget airline Ryanair has posted a 226-million-euro (263-million-dollar) net loss for the second quarter of the financial year as the coronavirus pandemic continued to weigh on passenger numbers.

The announcement on Monday marks a sharp contrast to the same July-to-September period the previous year, when Ryanair record a profit of 910 million euros.

Ryanair's chief exectuve Michael O'Leary said that overall losses for the first half of the financial year — 411 million euros — were less red ink than the airline expects for the second half of the financial year.

O'Leary added that though the company currently expects passenger volume to reach 38 million during the entire financial year, it was impossible to give a prognosis considering the measures that are being imposed by national governments to contain the second wave of the pandemic.

___

Visit Deutsche Presse-Agentur GmbH (Hamburg, Germany) at www.dpa.de/English.82.0.html

Distributed by Tribune Content Agency, LLC.