Ryanair narrows loss forecast for year to end-March

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Ryanair on Wednesday said it expected to post a smaller than expected loss in the year to the end of March and said the Irish airline expected to be “close to breakeven” in its current financial year.

Europe’s largest low-cost carrier said it expected a net loss of between 800 million euros and 850 million euros ($949 million-$1.01 billion) in the year to March 31 compared to previous guidance of 850 million to 950 million.

It said it expected traffic for the 12 months to the end of March 2022 to be towards the lower end of its previously guided range of 80 million to 120 million passengers, due to the slow rollout of COVID-19 vaccines in the European Union.

Ryanair is due to publish its annual results on May 17.

Main Photo: Ryanair aircraft at Stansted Airport in London, Britain. EPA-EFE/ANDY RAIN

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