Economy & Politics

Ryanair losing altitude

Due to the covid, the airline suffers an annual loss of 815 million euros in 2020. A record for the Irish company in 35 years of existence, even if the group wants to be optimistic about the recovery thanks to the deployment of the vaccination.

Marie DEDEBAN

Marie DEDEBAN

Due to the covid, the airline suffers an annual loss of 815 million euros in 2020. A record for the Irish company in 35 years of existence, even if the group wants to be optimistic about the recovery thanks to the deployment of the vaccination.

If it expected results in free fall, the airline Ryanair was undermined by the covid. In its annual report presented on Monday, the firm specializing in low cost flights presents an annual loss of 815 million euros, “due to health restrictions” she underlines.


ARCHIV - 20.09.2018, Irland, Dublin: Michael O'Leary, CEO von Ryanair, sitzt bei einer Pressekonferenz nach der Hauptversammlung of Billigfliegers Ryanair. (Zu dpa "Corona-Krise: Ryanair beklagt schlimmstes Quartal in 35 Jahren"= Foto: Niall Carson / PA Wire / dpa +++ dpa-Bildfunk +++

The Irish airline, which will soon no longer fly from Frankfurt-Hahn, has suffered the full brunt of the coronavirus pandemic. In 35 years of existence, the group explains that it has never experienced such a catastrophic quarter.


Like its competitors, the Irish company has recorded a significant drop in its flights: 81% of them had to be canceled, and the number of passengers fell from 149 million in 2019 to 27.5 million in 2020. That is to say , there too, a drop of more than 80%, while the Irish company was rather counting on 60%.

A situation which pushed the group to “reduce costs”, in particular via a “lowering of wages” and a revision of its order of Boeing 737, passed from 135 to 20 aircraft. The objective: “to minimize job losses”. The economic crisis due to covid had notably prompted Ryanair to close its site at Frankfurt-Hahn airport, in Germany, in November 2020.

A 2021 balance sheet “close to balance”

Despite everything, the airline company wants to be optimistic for the year 2020-2021. Betting on 5 to 6 million passengers over the period April-June, Ryanair announces “cautiously” that “the result for the financial year 2021-2022 will be close to balance”. The Irish company is counting in particular on “the deployment of vaccination in the European Union” to achieve its economic recovery.

When presenting the figures, the group’s general manager, Michael O’Leary said weekly bookings had reached “1.5 million per week, against about 500,000 per week in early April”. A development of good omen according to him.


Wi, Konsequenzen Lux-Airport und Luxair nach Coronakrise, Flughafen Luxemburg, Sars-Cov-2, Covid-19, Foto: Guy Jallay / Luxemburger wort

In 2020, the four branches of the airline group recorded a net loss of 154.9 million euros due to the covid crisis. This figure can be attributed in particular to the drop in passenger transport.


Note that the Irish firm operates eleven lines from Luxembourg. Like her, the fourteen other airlines that take off from Lux-Airport suffered a setback, as the airport recorded a 68% drop in passenger numbers compared to 2019.


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