2/1, 7:03 AM (Source: TeleTrader)
more TeleTrader news

Ryanair's Q3 revenue drops 82% YoY to €340M

Ryanair DAC announced on Monday that its revenues in the third quarter of fiscal 2021 stood at €340 million, plunging 82% on an annual basis. The reported figure failed to meet analysts' expectations. The carrier's number of customers in the third trimester sank 78% year-over-year to 8.1 million, while its net loss landed at €306 million, declining from net earnings of €88 million in the same period of fiscal 2020. The company's diluted loss per share was at €0.28, falling from earnings per share of €0.08 recorded in three months ending December 2019.

Meanwhile, Ryanair revised down its outlook for the financial year, expecting to reach a net loss of between €850m and €950m, and cut its air traffic estimate to between 26m to 30m passengers in 12 months ending March.

"Covid-19 continues to wreak havoc across the industry. Christmas & New Year traffic was severely impacted by UK travel bans imposed at short notice by many EU Govts on 19 & 20 Dec. As announced on 7 Jan., Ryanair expects the latest lockdowns and pre-arrival Covid test requirement to materially reduce flight schedules and traffic through to Easter," the company said in a statement.

Breaking the News / GA