Ryanair reveals huge annual loss but expects vaccine-fuelled rebound

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Ryanair, Europe’s largest low-cost airline, landed deep in the red in the past fiscal year due to the impact of the coronavirus pandemic on passenger numbers. Ryanair posted a loss of 815 million euros (989 million dollars) over the 12 months that ended March 31, compared to a profit of just over 1 billion euros in the same period a year earlier, chief executive Michael O’Leary said in a presentation on Monday. The airline’s passenger traffic fell 81 per cent over the previous year, to 27.5 million. For the current fiscal year, management believes in a result close to the break-even point, but…

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