Daily Business Live

Ryanair looking to ‘reasonable profitability’

Ryanair: reduced loss

Ryanair posted a €355 million loss in the 12 months to end-March 2022 and said it was looking for a return to “reasonable profitability” this year.

The pre-exceptional loss was less than a forecast loss of €370m in a poll of analysts and a loss of €1 billion in its previous financial year. The airline made a profit of €1 billion in the pre-pandemic year to March 2020.

The Dublin-based airline said it planned to grow its passenger traffic from 97 million to 165 million this year, compared to a pre-COVID-19 record of 149 million.

However, Ryanair Chief Executive Officer Michael O’Leary said it was “impractical, if not impossible” to provide a sensible or accurate profit guidance range at this time because of the continued risk created by the war in Ukraine and COVID-19.

“This recovery remains fragile,” Mr O’Leary said in a statement.

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