Ryanair airlines are recovering from the epidemic. Three years later, you report a profit

As the world plunged into a pandemic in the spring of 2020, some of the hardest blows came from airlines, which lost passengers almost overnight. Irish low-cost airline Ryanair also ran into a problem, as the pandemic period meant a three-year period during which the airline turned no profit.

This balance changes with the second quarter of this year, in which Ryanair managed to make a profit of 170 million euros, which is approximately 4.2 billion crowns after taxes. The company’s sales rose to 2.6 billion euros, or 63.7 billion kroner, which represents a year-on-year increase of 602 percent.

However, it is still these results that the company lags behind the numbers it had before the coronavirus pandemic. For the same period in 2019, Ryanair’s profit amounted to 243 million euros, which is almost 6 billion kroner.

Under normal circumstances, Ryanair generates the majority of its annual profits during the summer, ie during the summer holidays, which has had a positive impact on current economic results. A positive role is also played by the fact that Ryanair handles its flights mainly from smaller airports and thus manages to avoid the problems that plague large airports.

These difficulties are mainly related to the lack of staff, which causes delays in check-in processes, limits the number of passengers who can take off from airports per day, and in some cases, even cancels the flights themselves. Airports such as London Heathrow and Dutch Schiphol Airport have begun to impose limits on the number of tickets sold by carriers.

However, as Ryanair representatives themselves admit, it is certainly not won at the moment. “While we still hope that the high vaccination rate in Europe will allow the aviation and tourism sectors to fully recover and eventually put the coronavirus behind us, we cannot ignore the risks of new variants of COVID-19 in the fall of 2022.” CEO Michael O’Leary said.

According to him, the outlook for the future is subject to very rapid changes in connection with unforeseen events beyond the control of the company. That’s why O’Leary described Ryanair’s recovery as strong but still very fragile.

Contributed by CTK.