Ryanair made a loss of EUR 185 milion in the first quarter of 2020, after sales plummeted 95 percent as a result of the corona crisis. The airline fears a second outbreak of the coronavirus in Europe.
The Irish airline’s fleet was grounded for nearly four months due to the corona virus, after flight and travel bans were imposed. From July 1, Ryanair resumed most of its routes at a lower frequency than usual. The airline expects to resume 40 percent of operations in July and 60 percent in August.
Passenger numbers dropped by 99 percent to just 0.5 million passengers in the first quarter due to the coronavirus. Ryanair flew 41.9 million passengers in the same period a year earlier. The occupancy rate was 61 percent, compared to 96 percent last year.
Ryanair recorded an operating loss of €188 million in the second quarter, compared to a profit of €275 million in the same period a year earlier. There was a net loss of €185 million in the first quarter, compared to a net profit of €243 million last year.
Ryanair expects the current financial year to continue to be very challenging. “It is impossible to predict how long the pandemic will last. A second wave of COVID-19 cases in Europe in late fall is currently our biggest fear,” the airline said.