Ryanair said it may lose close to €1 billion in its current financial year, by far its worst ever performance, but Europe's largest low-cost carrier said the crisis would create significant growth opportunities.
The airline said it expects to post a loss of between €850-950m in its current financial year, which ends on March 31. This is around five times larger than its previous record annual loss posted in 2009, "Covid-19 continues to wreak havoc across the industry," the airline said in a statement. "FY21 will continue to be the most challenging year in Ryanair's 35 year history." Covid-19 restrictions cut Ryanair passenger numbers by 78% in the last three months of the year, the third quarter of its financial calendar, pushing it to a