Irish no-frills airline Ryanair on Monday said net losses narrowed sharply during its first half as the lifting of travel restrictions saw passenger traffic more than double.
The group meanwhile added that it was considering a removal of its non-primary shares listing in London with Brexit having caused a material drop in trading.
Ryanair’s net loss for the six months to the end of September came in at 48 million euros ($55 million), which compared to a loss after tax of 411 million euros a year earlier.
The Dublin-based carrier that flies mainly throughout Europe added in its earnings statement that the group’s recovery primarily occurred during its second quarter or three months to the end of September. “
Following a very badly disrupted first quarter, which saw most Easter flights cancelled and a slower than expected easing of EU government travel restrictions… traffic rebounded in the second quarter with the successful rollout” of the European Union’s vaccine passport, said Ryanair chief executive Michael O’Leary.—AFP
