By Anthony O. Goriainoff
Ryanair Holdings PLC said Wednesday that it now expects a narrower loss for fiscal 2021 than previously but added that fiscal 2022 traffic is likely to be at the lower end of guidance.
The London-listed budget airline said that for the year ended March 31 it expects to report a net loss in the 800 million euros to 850 million euros ($949.9 million to $1.01 billion) range. The company had previously guided for a net loss in the EUR850 million to EUR950 million range for the fiscal year.
The low-cost carrier had previously guided for fiscal 2022 traffic to be in the 80 million passengers to 120 million passengers range. The airline said it now expects to be at the lower end of this range due to Easter travel restrictions, a delayed traffic recovery into the peak summer 2021 season, and the slow rollout in the European Union of Covid-19 vaccines.
"While it is not possible at this time to provide meaningful fiscal 2022 profit guidance, we do not share the recent optimism of certain analysts as we believe that the outcome for fiscal 2022 is currently close to breakeven," the company said.
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(END) Dow Jones Newswires