Ryanair shares surge as investors bet on it winning pandemic recovery race

Bullish airline says it could recover from Q1 losses to make a profit this quarter and break even over the financial year

Ryanair saw losses extend in its first quarter, but strong passenger growth has led it to raise traffic forecasts for its latest financial year and eye a near-total wiping out of Covid-driven financial losses.

Ryanair has said it could make a profit this quarter and break even for its current financial year — bullish tones which significantly boosted its shares despite it reporting a widening in first-quarter losses.

The airline group posted a net loss of €273m for its first quarter — the three months to the end of June.