Ryanair finance update

Dublin-based Ryanair says that its full-year net loss to the end of March 2022 is expected to be higher than previously forecast, as the Omicron Covid variant and subsequent travel restrictions continue to impact demand.

The group has lowered its full-year guidance from a net loss range of between €100m to €200m, to a new range of €250m to €450m.

Ryanair said that the Omicron Covid variant and recent government travel restrictions across Europe had “notably weakened close-in Christmas and New Year bookings,” causing the carrier to cut its planned January 2022 schedule capacity by 33%.

The airline added that “In light of the current uncertainty about the Omicron variant, and intra Europe travel restrictions, no schedule cutbacks have yet been decided for February or March 2022.”

“These schedules will be revisited in January as more scientific information becomes available on the Omicron variant, its impact on hospitalisations, European population and/or travel restrictions in February or March,” Ryanair added.

www.ryanair.com

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