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Summer Bookings Are Rebounding Well For Ryanair

After a solid comeback in summer bookings, Ryanair plans to fly up to 100 million passengers this fiscal year.
The Irish airline increased its prediction of 90 million to 100 million passengers for the fiscal year ending March 2022, up from the lower end of an 80 million to 120 million range previously projected.
Covid-19 continues to “wreak havoc” on the business, according to the company, which posted a loss of 273 million euros (PS234 million) in the first quarter of the year.
The company reported that traffic increased to 8.1 million in the first quarter from 0.5 million the previous year, although losses were larger than the 185 million euros (PS158 million) in the same period of 2020.
“FY22 continues to be difficult, with Covid-19 travel limitations extending uncertainty,” it warned.
There is a lot of confusion about travel green lists (especially in the UK) and the government’s severe policies.
“After the 1st July deployment of EU digital Covid certificates (and the loosening of the UK’s quarantine laws) for fully-vaccinated passengers, our group has seen Q2 reservations recover rapidly (although at low rates),” says the company.
“We believe FY22 traffic has increased to a range of 90m to 100m (previously indicated at the lower end of an 80m to 120m passenger range) and (cautiously) expect a minor loss to breakeven in FY22.”
“This is contingent on the continuous distribution of vaccines this summer and no adverse Covid variant developments,” Ryanair said. In the year to March 2021, Ryanair flew 27.5 million passengers, down from 148.6 million the year before.
“Covid-19 continues to cause havoc on our business during Q1,” the airline claimed, “with most Easter flights cancelled and a slower than expected relaxing of EU government regulations.”
Throughout May and June, there will be travel restrictions.

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