Ryanair Reported €185m Loss and Expresses Fear of ‘Second Wave’

Low-cost airline Ryanair has expressed fears over a second wave of the Covid-19 virus further damaging the travel industry as it reports losses of €185m in the first quarter of 2020

Budget carrier Ryanair has expressed fears over a second wave of the devastating Covid-19 virus further damaging the struggling travel industry.

The carrier’s fears come as it reports a first quarter 2020 loss of €185m, down from €243m last year.

The global pandemic and subsequent travel restrictions meant that 99% of the airline’s aircraft were grounded from April to June 2020.

A statement from the airline said: “It is impossible to predict how long the Covid-19 pandemic will persist, and a second wave of Covid-19 cases across Europe in late autumn (when the annual flu season commences) is our biggest fear right now.

“Hopefully EU governments, by implementing effective track and tracing systems, and EU citizens by complying with recommended face masks, rigorous hand hygiene and other measures, will avoid the need for further lockdowns or restrictions on intra-EU flights.

“It is vital that European economies begin the process of recovery this summer to minimise the damage arising from the Covid-19 pandemic and this recovery can only be led by intra-EU air travel which is the engine of EU growth and economic activity.

“However, the Ryanair Group will emerge from the Covid-19 crisis with a much lower cost base, which will be essential to fund lower fares as the Group competes against unlawfully state aided flag carriers.”

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