Ryanair has announced Q3 losses of €306 million, compared to a previous year profit of €88 million for the same quarter, in part as a result of the travel bans imposed by many European governments on travel from the UK in December.
The airline said it carried 8 million passengers during the quarter, which ended on 31 December, down by 78 per cent from 36 million last year. Load factor fell by 26 percentage points to 70 per cent.
The airline said: “We expect intra-European capacity to be significantly reduced for the next few years, which will create growth opportunities for Ryanair to take advantage of recovery growth incentives, as it takes delivery of 210 new (lower cost) Boeing 737s.”
In December, Ryanair increased its firm order for the Boeing 737-8200 aircraft by 75 to 210 aircraft. These have 4 per cent more seats, but burn 16 per cent less fuel and lower noise emissions by 40 per cent compared to the Boeing 737 MAX 8, on which the 8200 variant is based, which was recently given the green light to fly again after a two-year grounding.
The airline also said it had recently concluded a four-year extension of its deal with London Stansted airport to 2028 and has secured easyJet’s slot portfolio at the airport after the latter decided to end its activities there.
Looking ahead, the carrier said the 2021 financial year would “be the most challenging year in Ryanair’s 35-year history” and said it expected a net loss of between €850 million and €950 million before exceptional items.