Not so much air under Ryanair’s wings
Europe’s largest airline by passenger numbers revealed a loss of €96 million for the final three months of 2021. The result came in lower than the €101 million consensus. In the same quarter of 2020, Ryanair lost €306 million.
Chief Executive Michael O’Leary said there had been a “very strong bounce back" in booking in recent weeks as worries about the Omicron variant began to fade. While bookings had started to improve, passengers were still making last-minute travel decisions, and price cuts were needed to help improve demand. The outlook is still uncertain.
Ryanair officials reiterated the forecast for the full fiscal year, anticipating losses between €250 million - €450 million. Moreover, the company reaffirmed its expectations to fly just under 100 million passengers this financial year.
At the moment of writing, Ryanair’s stock price was trading 0.21% higher.
Sources: finance.yahoo.com, reuters.com