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London- Ryanair has found a strong dip in the booking in the current week, also mentioned that the business will be continuing to be quite challenging.
However, the airline reports a complete year net loss of 815 million euros from Monday due to the rise of the Covid-19 restrictions which dragged the traffic to levels down almost 81%. As per the analysts, there has been a forecast of a net loss of around 933 million euros for the 12 months which is ending in March, as per the Refinitive.
On Monday, Ryanair’s CEO Michael O’Leary mentioned that it was “very difficult year”, on the other hand, the company was “looking forward with tremendous optimism.”
O’Leary exclaimed, “In the first week of April, we took just under half a million bookings. Six weeks later, last week, we took 1.5 million bookings. So we are seeing a very strong snap back in bookings; travel beginning to start from June, July, and August. I think if these trends continue we will be looking reasonably optimistic towards a very strong second quarter of traffic recovery.”
A release on Monday mentioned, “FY22 (the full fiscal year 2022) continues to be challenging, with uncertainty around when and where Covid lockdowns and travel restrictions will be eased.”
Ryanair supposes traffic in the year to March 2022 to be at the lower end of its varies of between 80 million and 120 million passengers. In the year to March 2021, the airline described 27.5 million customers.
Pressure of price
In spite of vaccinations gathering pace and European governments starting to welcome tourists again, Ryanair doesn’t suppose prices to upsurge in the short term. In fact, O’Leary told that there is “huge value” for British families observing to holiday in Europe this summer.
However, he warned that there could be some price pressure in late 2021 and into the summer of 2022.
O’Leary mentioned, “We should be careful though, out into the winter of 21 and certainly into the summer 22, because as Europe recovers from Covid … there is no doubt in mind that there will be about 20% less capacity out there.”
