Budget airline Ryanair said it is braced for “the most challenging year” in its 35-year history as it announced third quarter losses of £270 million.
The low-cost carrier said coronavirus continues to “wreak havoc across the industry” as it recorded a fall of 78 per cent in passenger numbers in the three months to December 2020 compared with the same period in the previous year.
In the quarter up until December, 8.1 million passengers travelled with Ryanair, compared to 35.9 million in the same period in 2019.
The quarterly loss contrasts with a £78 million profit after tax in the same period a year before.
Ryanair said: “FY21 will continue to be the most challenging year in Ryanair’s 35-year history.
"Recently announced Covid lockdowns and travel restrictions across the EU & UK will reduce forecast FY21 traffic to between 26m and 30m (previously “up to 35m”), with more risk towards the lower end of the range.
“While Q4 visibility remains limited due to uncertain and constantly changing Covid-19 travel restrictions, European Govt lockdowns, the timing of the rollout of vaccines across the EU and a very close-in booking curve, we are cautiously guiding an FY21 net loss (pre-exceptional items) of between £750m and £838m.”
