Ryanair: limited interim loss, despite covid
(CercleFinance.com) - On Monday Ryanair reported a limited H1 loss, despite the drop in passenger traffic over the period.
The leading low cost European airline posted a net loss of 197 million euros for the six months ended September, compared with a profit of 1.15 billion euros for the same period a year ago.
The Irish carrier said that the number of passengers carried collapsed 80% year-on-year, from 85.7 million to 17.1 million over the past six months.
As a result, its H1 revenues also fell by 78% to just 1.18 billion euros compared with 5.39 billion euros a year ago.
Nevertheless, Ryanair explains that it has managed to considerably reduce its operating expenses, which were limited to just 1.35 billion euros over the half-year compared with 4.10 billion euros a year earlier.
These figures illustrate the company's sound capacity to resist, an analyst based in London said this morning.
The share, which at first lost altitude on Monday, then picked up again and is currently pretty flat.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The leading low cost European airline posted a net loss of 197 million euros for the six months ended September, compared with a profit of 1.15 billion euros for the same period a year ago.
The Irish carrier said that the number of passengers carried collapsed 80% year-on-year, from 85.7 million to 17.1 million over the past six months.
As a result, its H1 revenues also fell by 78% to just 1.18 billion euros compared with 5.39 billion euros a year ago.
Nevertheless, Ryanair explains that it has managed to considerably reduce its operating expenses, which were limited to just 1.35 billion euros over the half-year compared with 4.10 billion euros a year earlier.
These figures illustrate the company's sound capacity to resist, an analyst based in London said this morning.
The share, which at first lost altitude on Monday, then picked up again and is currently pretty flat.
Copyright (c) 2020 CercleFinance.com. All rights reserved.