Ryanair has transported 80 percent fewer passengers in the past six months than in the same period last year and is not counting on that there will be much improvement in the coming quarter. Michael O’Leary, CEO of the company, thinks air traffic in Europe may be only a quarter of normal this winter.
“I think there will be a big decrease,” he says of air traffic in an explanation of the company’s half-year figures. “Probably 60 or 70 percent, maybe even 75 percent.”
In the past six months, the Irish airline has already recorded a loss of 197 million euros, but due to the great uncertainties, Ryanair expects to dive deeper into the red in the next six months. The new lockdown measures play a role in this.
Between mid-March and the end of June all Ryanair aircraft remained on the ground. In the past six months, turnover fell from 5.4 billion euros to almost 1.2 billion euros. The company says that it still has 4.5 billion euros in cash and that it has made significant savings on costs.
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