Ryanair Reports €306m Loss as January Traffic is Down 88%
Ryanair announced a third Quarter loss of €306m in the three months to the end of December. This is a fall from a profit of €88m in the same period of the previous year. Despite the poor trading since the pandemic began to take effect across Europe last March, Ryanair still maintains €3.5 billion in cash reserves. Ryanair carried just 8.1 million passengers in the three months to December which was down from nearly 36m in 2019.
January 2021 continued to be a poor performer with 1.3m passengers carried across the network. This is a fall of 88% from the 10.3m carried back in January 2020. The airline operated only 15% of the normal January schedules with 69% load factor.
Following the UK/EU Brexit trade agreement in late December, Ryanair has implemented the measures necessary to remain majority EU owned and controlled to protect its EU airline licences. Ryanair has restricted voting rights of non-EU shareholders from 1st January 2021.
Following the certification of the Boeing 737MAX to return flying again in Europe by EASA, Ryanair is confident that the Boeing 737-8200 variant which they have ordered will receive its certification in the coming weeks. Ryanair expect to have up to 24 available to operate across their network for the summer of 2021.
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