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Ryanair reports full-year profit up 13%, cuts traffic for coming year
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Ryanair has today reported a profit after tax of €1 billion for the year to March 31, but said it was unable to provide a forecast for the current year due to Covid-19 and cut its annual passenger traffic target by a further 20%.
Europe's biggest low cost carrier said it expected to post a loss of €200m in the three months to the end of June. But it added that a forecast for the full-year was impossible as it had "no visibility" on customer behaviour and demand once it reopens some of its network on July 1.
Ryanair cut its passenger target for the year to end-March 2021 to 80 million, down from a target of 100 million given last week and from an original target of 154 million.
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