Ryanair: March traffic collapses 48%, as virus takes toll

(CercleFinance.com) - After seeing its traffic fall by 48% in March, due to the Covid-19 pandemic, Ryanair said on Friday that it was "not possible" to provide any guidance for its current financial year.


The Irish low-cost airline - which is currently operating less than 20 flights per day - said it expects to incur an exceptional charge as most of its fleet remains grounded.

Citing the "ineffectiveness" of its fuel hedges, the budget carrier plans to book an exceptional charge of approximately 300 million euros, it said.

For the past financial year ended 31 March, Ryanair said it expects to post profit after tax of between 950 million euros and 1 billion euros, at the lower end of its previous guidance range.

In a statement, debt-free Ryanair said it has one of the strongest balance sheets in the industry, with year-end cash equivalents of 3.8 billion euros.

Its share was up slightly (+0.6%) after these comments on Friday morning.

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