Ryanair traffic halves in March and estimates extraordinary loss of 300 million

The airline advises that the result of its fiscal year will be in the lower part of the forecast range

Irish low-cost airline Ryanair registered a 48% drop in passenger traffic in March and estimates an extraordinary charge of 300 million for its fiscal year – which ended on March 31, 2020 – due to flight restrictions in Europe to stop the expansion of the coronavirus.

In addition, the airline has reported this Friday that, with this new scenario, it expects the recurring profit after taxes to be between 950 and 1 billion euros, at the lower end of its previously announced forecast range.

The drop in passenger traffic has meant that the number of passengers went from 10.9 million in March 2019 to 5.7 million in 2020. This has impacted the annual figures of passengers carried, which has increased by 4% to 149 million travelers, of the 154 expected.

The low-cost airline is currently operating fewer than 20 daily flights, which represents 1% of its usual schedule and expects its fleet to remain on the ground at least until June, which will mean the aforementioned exceptional charge of 300 million derived from having fueled with an amount of fuel that will not be used.

Faced with this uncertain situation, the airline has explained that it is impossible to make a forecast for its 2021 fiscal year.

«Given the continuing uncertainty about the impact and duration of the Covid-19 pandemic, it is not possible to give guidance for fiscal year 21 at this time,» Ryanair has argued in a statement.