Ryanair cuts its expected losses for 2021

Passenger numbers for the year ahead expected at the lower end of predictions

Ryanair said the slow rollout of vaccines in the EU will delay air traffic recovery in the year ahead. Picture: Larry Cummins

Ryanair said it expects to report a net loss of between €800m and €850m for the financial year ending March 31.

The airline was previously guiding losses at a range of between €850m to €950m. Ryanair's full-year traffic was 27.5m, down from 149m the previous year.

However, the airline said its balance sheet remains strong with a BBB credit rating and significant liquidity with cash reserves of more than €3.15bn.

In a statement today, Ryanair said the slow rollout of vaccines in the EU will delay air traffic recovery in the year ahead and that their traffic would likely be at the lower end of the previously guided range of 80m to 120m passengers.