Ryanair Q1 2022 incomes

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Ryanair Q1 2022 earnings

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A Ryanair airplane Boeing 737-800 prepares to remove at Krakow Airport.

Omar Marques | Getty Images News | Getty Images

LONDON — Low-expense airline company Ryanair stated Monday that it’s still dealing with a “challenging” environment which it may complete the “somewhere between a small loss and breakeven” as Covid-19 constraints stick around.

The Irish company reported a 273 million euro ($322 million) loss for the duration in between April and June, as lockdowns implied most flights over the Easter duration were canceled and with European countries bewaring over the easing of travel constraints.

In contrast, the airline company published a 185 million euro loss over the exact same first-quarter duration a year back.

“Covid-19 continued to wreak havoc on our business,” Ryanair CEO Michael O’Leary stated in a declaration Monday.

At the exact same time, running expenses likewise increased, degrading the business’s balance sheet. Over the year to June, expenses increased by 116%, driven mainly by fuel, airport and path charges.

However, O’Leary anticipates traffic to get in the coming weeks.

“We expect traffic to rise from over 5 million in June to almost 9 million in July, and over 10 million in August, as long as there are no further Covid setbacks in Europe,” he stated.

However, the outlook is extremely depending on the pandemic and effective vaccination projects. According to Our World in Data, in the European Union 46% of the adult population is completely immunized versus Covid-19. In the U.K., that number is 54.4%.

Ryanair shares are up 42% from a year back.

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