Ryanair has announced a widening of losses in its first quarter, hit by Covid-19 travel restrictions in Europe. Losses after tax hit €273m in the group's first fiscal quarter, or three months to June 30.
That compared with a net loss of €185m a year earlier for the Dublin-based carrier that flies mainly throughout Europe. "Covid-19 continued to wreak havoc on our business during the first quarter with most Easter flights cancelled and a slower-than-expected easing of EU government travel restrictions into May and June," Ryanair chief executive Michael O'Leary said in the company's earnings statement.
Costs more than doubled in its first quarter, offsetting a near trebling of revenues. Traveller numbers soared to 8.1 million from just