Ryanair logs in first-half loss due to passenger slump

Guest Contributor

Contributors are not employed, compensated or governed by TD, opinions and statements are from the contributor directly

Low-cost carrier Ryanair has reported a loss of EUR 197 million (USD 230 million) for the first half of financial 2020 as the Covid-19 pandemic continues to extract a huge toll on the aviation sector. The loss compares to a profit of EUR 1.15 billion (USD 1.34 billion) for the same period of last year.

The airline was forced to ground 99% of its fleet from mid-March to the end of June as the coronavirus swept Europe. Service was resumed on 1 July but the disruption meant the carrier welcomed only 17 million passengers over the six-month period, down from 86 million for the period in 2019.

The Covid-19 crisis has already caused the closure of a number of EU airlines including Flybe, Germanwings and Level as well as deep long-term capacity reductions at many others. In the longer term, the carrier said this would allow it to grow its network and expand its fleet, as well as to take advantage of lower cost airport and aircraft opportunities which will ‘inevitably’ arise.

You might also like

Comments are closed.

Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.
You can unsubscribe at any time