Ryanair Updates FY21 Net Loss View; Now Sees FY22 Traffic At Low-end Of Previous Outlook

(RTTNews) - Low fares airline Ryanair Holdings Plc. (RYA.L, RYAAY) Wednesday said it expects to report fiscal 2021 pre-exceptional net loss of between 800 million euros and 850 million euros, narrower than previously expected net loss between 850 million euros and 950 million euros.

The full-year traffic was 27.5 million, sharply lower than prior year's 149 million, due to Covid-19 government flight cancellations and travel restrictions.

The company said its year-end cash as of March 31 was over 3.15 billion euros, while more than 84% of its owned fleet of 420 B737 aircraft are unencumbered.

Looking ahead, the company now expects that fiscal 2022 traffic is likely to be towards the lower end of its previously guided range of 80 million to 120 million passengers. The outlook revision reflects Easter travel restrictions/lockdowns and a delayed traffic recovery into the peak Summer 21 season, due to the slow rollout in the EU of Covid-19 vaccines.

"While it is not possible (at this time) to provide meaningful FY22 profit guidance, we do not share the recent optimism of certain analysts as we believe that the outcome for FY22 is currently close to breakeven," the company said.

Ryanair is scheduled to release its fiscal 2021 results on May 17.