Ryanair Posts HY Loss; Sees Higher Losses In H2 Than H1

(RTTNews) - Low fares airline Ryanair Holdings plc (RYAAY, RYA.L) reported that its net loss attributable to equity holders of parent for the first half-year ended September 30, 2020 was 410.5 million euros or 0.3752 euros per share, compared to a profit of 1.15 billion euros or 1.0204 euros per share in the prior year.

Excluding certain items, net loss for the latest-period was 196.5 million euros.

Ryanair expects to record higher losses in the second-half of the year than in the first-half.

Looking ahead, Ryanair said fiscal year 2021 will continue to be a hugely challenging year for the company.

Ryanair expects to carry about 38 million passengers in fiscal year 2021, although the guidance could be further revised downwards if EU government continue to air travel and impose more travel restrictions or lock downs this winter.

Revenue for the first half-year ended September 30, 2020 fell by 78% to 1.18 billion euros from last year as traffic fell 80% to 17.1 million.

Boeing expects to return the MAX-8 service in the fourth-quarter. It is more than 18-months since Ryanair was due to take delivery of its first Boeing 737-MAX-200 aircraft.

Ryanair said compensation discussions will not be finalised or concluded with Boeing until the MAX returns to service and revised delivery schedules can be finalised and agreed.

Ryanair expects to accept delivery of its first MAX-200 in early 2021. It expects to take delivery of about 30 MAXs before peak summer season in 2021.