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Ryanair Misses 2020 Passenger Traffic Target

Ryanair missed its 2020 goal for passenger traffic and wished to book an exceptional cost of around 300 million euros for the year, which ended last month, it stated Friday.

Ryanair Misses 2020 Passenger Traffic Target

Europe’s largest finances airline said the impact of the coronavirus meant it was not in a position to present guidance for 2021.

It reported 2020 traffic up 4% to 149 million passengers. However, that was short of the 151 million it had anticipated as of March 10 and lower than its earlier goal of 154 million.

Ryanair has been forced to park a lot of its fleet. It’s currently operating fewer than 20 daily flights or less than 1% of its regular schedule of over 2,500 flights.

For this year, it expects to report a pre-exceptional revenue after tax at the lower end of $1.03 billion, it stated Friday.

The 300 million euro exceptional charge it will take for 2020 pertains to the ineffectiveness on its 2021 fuel hedges.

Ryanair stated it has one of the strongest balance sheets in the sector, with year-end money equivalents of 3.8 billion euros and 327 planes, 77% of the group’s owned fleet, debt-free.

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