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Ryanair (RYA) up 1.37% as losses widen to €306m in Q4
Ryanair Holdings (RYA) closed 1.37% higher at €14.18 in London on Monday after it revealed that it was working on “recovery/growth incentives” following steep losses in Q4.
The Irish low-cost airline posted €0.34bn revenues for the three months to 31st December 2020, which represents a significant 82% downturn from a year ago.
Like most companies in the travel industry, Ryanair’s core business has been decimated by the pandemic and lingering uncertainty about if and when commercial travel will be viable this year.
There was a boost though on Monday when the UK government opted to extend the waiver for take-off and landing slots for air carriers for the summer season.
This means that Ryanair and rivals such as easyJet (EZJ) and British Airways, the latter owned by IAG (IAG), won’t have to run flights merely to maintain their positions at major UK airports.
Ryanair losses are still mounting though, and it was in the red to the tune of €306m in Q4 as only 8 million people flew with the airline.
It now expects its net loss to top out at €950m for the full fiscal year and its total traffic numbers for that period to be somewhere between 26m and 30m.
Ryanair is slightly more optimistic about the future though and noted that its costs will increase in Q1 as it attempts to lay the groundwork for a sustainable recovery.
The company is hoping to expand into Paris and Naples and enact incentives around growth with a number of other airports across Europe.
Ryanair noted that it soon “expects to have a much lower cost base and a strong balance sheet, which will enable it to fund lower fares and add lower cost aircraft”.
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