Ryanair warns of soaring losses as it faces ‘difficult’ year

Ryanair has reported a 13% increase in profits to €1bn for the year ending March but warned that it faces a “difficult” year ahead following the impact of coronavirus.

Ryanair has said it expects passenger numbers to almost halve in the current financial year as it warns that it faces a “difficult” year ahead following the impact of coronavirus.

It came as the company reported a 13% increase in profits to €1bn for the year ending March, but expects to deliver significant losses in the current quarter.