Covid slump: Ryanair said it expects to post a loss of between £740m and £840m in the year to March
Ryanair warned annual losses could hit £840million – but said Britons could be sunbathing on European beaches this summer if the EU steps up its vaccine rollout.
The no-frills airline said it expects to post a loss of between £740million and £840million in the year to March after the pandemic devastated air travel.
Recent lockdowns, £150 Covid tests at airports and the threat of expensive hotel quarantining upon returning to the UK have dealt another blow to a much hoped-for recovery.
But boss Michael O’Leary said he was ‘heartened’ by the pace of the rollout of vaccines in the UK and predicted a ‘dramatic recovery’ that could see families flock to Spanish and Greek beaches this summer.
O’Leary said: ‘We think once all those high-risk groups have been vaccinated, then the travel restrictions should be removed.
‘So we expect to see a very strong return of British families travelling to the beaches of Spain, Portugal, Italy and Greece in relative safety this summer.’
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