Photo: Tobias Arhelger / shutterstock.comReading Time: < 1 minute
Ryanair has revealed its Q1 2020 results showing a net loss of €185 million. In comparison with a net profit of €243 million in the same period last year, the damage of the pandemic is already becoming obvious.
Through the 35-year history, Ryanair says the Q2 of 2020 was the most challenging, the coronavirus pandemic hit has been harsh. Almost entire Ryanair Group’s fleet was grounded for nearly four months, operating only special flights.
In July, Ryanair has operated approximately 40% of its normal schedule. For August, the carrier expects to do 60% of the regular last summer month schedule and in September rise to 70%. However, as for now the biggest fear is the second wave of the lockdowns amid the pandemic.
“It is impossible to predict how long the Covid-19 pandemic will persist, and a 2nd wave of Covid-19 cases across Europe in late autumn (when the annual flu season commences) is our biggest fear right now,” Ryanair said in a statement.
According to current estimations, during the fiscal year of 2021 Ryanair Group traffic could fall by 60%, from 149 million to 60 million. Also, the Group expects to record a smaller loss in Q2 (which reflects a gradual return to flying from 1 July) than in Q1.
Nevertheless, before the end of 2020, Ryanair hopes to take the first delivery of delayed Boeing 737 MAX 200 aircraft. Boeing estimates its MAX program will return to service in the US in late Q3 2020.
“These new aircraft will enable the Ryanair Group to grow to 200m passengers p.a. over the next 5 or 6 years while reducing the Group’s cost base and significantly lowering its environmental footprint,” the company provides.