Ryanair warns it may lose 1 billion euros
Еhe airline also said the crisis would create significant growth opportunities
Stocks impacted: Ryanair (RYA)
Ryanair warned it may lose close to 1 billion euros in its current financial year, with the company has been hurt as governments in Europe add to restrictions on travel. At the same time, the airline said the crisis would create significant growth opportunities. Europe’s largest low-cost carrier said it expects to post a loss of between 850 and 950 million euros in its current financial year, which ends on March 31. This is around five times larger than its previous record annual loss posted in 2009. As a reminder, the company has lowered its traffic forecast for the year to between 26 million and 30 million, citing to the pandemic-related restrictions in the U.K. and the EU.
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