Ryanair posts annual loss amid the pandemic
The company expects to come close to breakeven in the 12 months to March 2022
Stocks impacted: Ryanair (RYA)
The London-listed airline swung to a net loss in its latest fiscal year, citing the effects of the COVID-19 pandemic. For the year ended March 31, its net loss was 1.02 billion euros ($1.24 billion) compared with a profit of 648.7 million euros in fiscal 2020. Ryanair’s pretax loss for the year was 1.11 billion euros compared with a profit of 70.3 million euros the year before. Revenue for fiscal 2021 was 1.64 billion euros compared with 8.49 billion euros a year earlier. Now, the company only expects to come close to breakeven in the 12 months to March 2022. Ryanair expects traffic in the year to March 2022 to be at the lower end of its range of between 80 million and 120 million passengers.
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