Ryanair has reported a lack of €306 million for the third quarter of the monetary yr, down sharply from a revenue of €88 million for a similar interval final yr.
Within the three months to the top of December, the low-cost service welcomed simply 8.1 million passengers, down 78 per cent from the 35.9 million a yr in the past.
Income for the quarter was €0.3 billion, down 82 per cent from the €1.9 billion seen throughout the identical interval of 2019.
The service stated, whereas visibility to the top of the yr was weak, it now expects to lose as a lot as €950 million for the total monetary yr.
Nevertheless, trying additional forward, Ryanair stated it hopes to have the ability to capitalise on the disaster within the longer-term.
The service stated it expects to have a a lot decrease value base and a robust steadiness sheet transferring ahead.
This can allow it to fund decrease fares and add decrease value plane to capitalise on the various development alternatives that shall be out there in all markets throughout Europe, particularly the place competitor airways have considerably minimize capability or failed.
Flybe, Germanwings, Degree and Montenegro Airways have already left the market, with different failures attainable within the yr forward.