The losses are in line with expectations for Ryanair
The airline industry was one of the most affected by the pandemic,
with companies making efforts to keep themselves afloat.
One of the most known European air carriers, Ryanair is close to reporting
the worst year on its 35 years of existence. In fiscal third-quarter 2021, the
company reported a 78% decrease in passengers' number and a revenue loss of €306
million. For the full fiscal year, Ryanair forecasts the losses to reach €1
billion. A recovery is expected in the summer.
By the end of fiscal 2021, up to 30 million will be flown
with Ryanair, almost fivefold lower than the 149 million reported in fiscal
2020. By March 2022, the number is seen to reach 120 million.
Year-to-date, Ryanair stock price fell roughly 12%.
Source: cnbc.com
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