Ryanair Holdings says second Covid-19 wave biggest fear
Ryanair Holdings posted a €185m loss for the three months to June but cautioned about the impact that a second wave of coronavirus infections might have even as it stood by plans to gradually resume flights.
Ryanair Holdings (CDI)
€14.41
17:14 17/12/21
Travel & Leisure
7,610.95
09:25 25/04/24
"It is impossible to predict how long the Covid-19 pandemic will persist, and a second wave of Covid-19 cases across Europe in late autumn, when the annual flu season commences, is our biggest fear right now," the company said.
Looking ahead, Ryanair said that the trading year through March 2021 would be challenging, not least due to possible "adverse trading consequences" should the UK leave the European Union at the end of the year without a deal.
Nonetheless, Europe's largest discount carrier anticipated a smaller loss during the quarter as flights resumed.
The company was planning to resume roughly 40% of its normal flight schedule in July, increasing to 60% in August and 70% during September.
Furthermore, the airline might be able to pick up market share as competitors were forced to shrink their footprint, although management believed that air travel could remain depressed for as long as two or three years.