Ryanair 1Q 2022 Net Loss Widened

By Anthony O. Goriainoff

Ryanair Holdings PLC said Monday that its net loss for the first quarter of fiscal 2022 widened after booking higher costs and that the fiscal year continues to be challenging due to continued travel restrictions stemming from the pandemic.

The London-listed low cost carrier said expected traffic for the fiscal year had improved to a range of 90 million to 100 million passengers, from its previous guidance for the lower end of 80 million to 120 million passengers. It added that the likely outcome for the fiscal year would be somewhere between a small loss and breakeven though this was dependent on the continued rollout of vaccines this summer and no adverse Covid-19 developments.

The company said that traffic recovered significantly in the three months ended June 30 to 8.1 million passengers from 500,000 in the year-prior period.

Ryanair said that its first-quarter net loss was 272.6 million euros ($320.9 million), compared with a net loss of EUR185.1 million for the first quarter of fiscal 2021.

Revenue for the period was EUR370.5 million, compared with EUR125.2 million the year before.

Ryanair said that ancillary revenue rose to EUR178.6 million from EUR24.5 million the year before.

The company said it was impossible to provide meaningful guidance for fiscal 2022 at this time.

Write to Anthony O. Goriainoff at [e-mail]

(END) Dow Jones Newswires

July 26, 2021 01:14 ET (05:14 GMT)

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