- July 26, 2021
- Posted by: Stratford Team
- Category: Business
- Loss for April-June quarter less than forecast
- Traffic seen at two-thirds of 2019 levels in August-September
- Fares remain one-third below pre-pandemic levels
DUBLIN, July 26 (Reuters) – Ryanair (RYA.I) on Monday nudged up its forecast for full-year traffic on strong summer bookings but said fares remained well below pre-pandemic levels as it reported a first-quarter net loss of 273 million euros ($322 million).
The Irish airline, Europe’s largest low-cost carrier, said it expected to fly between 90 and 100 million passengers in its financial year to end-March 2022, up from an earlier forecast of 80-100 million.
A surge in bookings saw traffic increase from around one-third of 2019 levels in June to a forecast two-thirds in July, the airline indicated.
At least 10 million passengers are expected in August and September, around 70% of pre-pandemic levels, Chief Financial Officer Neil Sorahan said.
Rival easyJet last week said it hoped to ramp up capacity to 60%…
