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Thursday, September 23, 2021

Strong recovery for Ryanair following summer bookings

Ryanair has made a strong recovery as it expects to fly up to 100 million passengers this financial year as a result of summer bookings.

By the end of March 2022, the airliner expects to fly between 90 million to 100 million people.

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This is an increase from its original forecasted numbers of 80 million people.

The airliner reported a loss of €273 million in the first quarter of the year as a result of the travel sector being drastically affected by the Covid-19 pandemic.

Traffic in the first quarter of the year was up to 8.1 million from 0.5 million for the same period last year but losses were higher than last year’s figure of €185 million.

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In March 2020, Ryanair flew 148.6 million passengers, whereas during March of this year there were 27.5 million passengers transported.

Although the company has seen Q2 bookings recover strongly, fares still remain low.

The airliner stated that the likely outcome of the year would be between a small loss and breakeven.

This prediction is based on the continued rollout of vaccines along with no adverse variant developments.

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