Ryanair q4 2021 revenues

LONDON — Ryanair has actually reported a “strong snap back” in reservations in current weeks, however stated that business continues to be difficult.

The airline company reported a full-year bottom line of 815 million euros ($989 million) on Monday as Covid-19 limitations pressed its traffic levels down 81%. Analysts had actually anticipated a bottom line of 933 million euros for the 12 months ending in March, according to Refinitiv.

Speaking to CNBC on Monday, Ryanair’s CEO Michael O’Leary stated it was a “very difficult year,” however that the business was “looking forward with tremendous optimism.”

“In the first week of April, we took just under half a million bookings. Six weeks later, last week, we took 1.5 million bookings. So we are seeing a very strong snap back in bookings; travel beginning to start from June, July, August,” O’Leary stated.

“I think if these trends continue we will be looking reasonably optimistic towards a very strong second quarter of traffic recovery.”

Regardless of the current rise, Ryanair just anticipates to come near breakeven in the 12 months to March 2022.

Ryanair stated it anticipates traffic in the year to March 2022 to be at the lower end of its variety of in between 80 million and 120 million travelers. In the year to March 2021, the airline company reported 27.5 million consumers.

Despite vaccinations collecting rate and European federal governments beginning to invite travelers once again, Ryanair does not anticipate costs to leap in the short-term. In truth, O’Leary informed CNBC there is “huge value” for British households seeking to vacation in Europe this summertime.

However, he did alert that there might be some rate pressure in late 2021 and into the summertime of 2022.

“We should be careful though, out into the winter of 21 and certainly into the summer 22, because as Europe recovers from Covid … there is no doubt in mind that there will be about 20% less capacity out there,” O’Leary informed CNBC’s Squawk Box Europe.