Covid-19: Ryanair to take €300m hit, but still in profit

Ryanair is currently running fewer than 20 daily flights across its European route network; 99% fewer than its normal pre-Covid-19 schedule

Ryanair is set to show a €300m hit from fuel costs in its latest annual results as the effects of the Covid-19 crisis begin to materialise on its balance sheet.

The airline said it will still post a profit for the 12 months to the end of March, but that it will be at the lower end of a narrower guidance of €950m-€1bn.