![\"\"](\"http:\/\/irishexaminerusa.com\/wp\/wp-content\/uploads\/2020\/07\/2.53756074.jpg\")
Ryanair suffered the \u201cmost challenging\u201d quarter in its 35-year history as it reported a loss of \u20ac185 million.<\/p>\nRyanair suffered the \u201cmost challenging\u201d quarter in its 35-year history as it reported a loss of \u20ac185 million.<\/p>\n
The low-cost airline, like its competitors, was forced to ground its fleet as Covid-19 wreaked havoc on timetables with travel bans and lockdowns introduced worldwide.<\/p>\n
It said a second wave of the disease was now its \u201cbiggest fear\u201d.<\/p>\n
Restrictions saw the company carry 500,000 passengers in the first quarter compared with 41.9 million in the same period last year, while revenue collapsed from \u20ac2.3 billion to \u20ac125 million.<\/p>\n
The company said: \u201cThe past quarter was the most challenging in Ryanair\u2019s 35-year history.<\/p>\n
\u201cCovid-19 grounded the group\u2019s fleet for almost four months (from mid-March to end June) as EU governments imposed flight or travel bans and widespread population lockdowns.<\/p>\n
\u201cDuring this time, group airlines repatriated customers and operated rescue flights for different EU governments, as well as flying a series of medical emergency\/PPE flights across Europe.\u201d<\/p>\n
Flights were resumed on July 1, and the company said it aimed to operate around 40 per cent of its normal July schedule, increasing to 60 per cent in August and 70 per cent in September.<\/p>\n
Ryanair Holdings plc said it expected air travel to be depressed in Europe for the next two to three years, adding: \u201cThis will create opportunities for Ryanair to grow its network, and expand its fleet, to take advantage of lower airport and aircraft cost opportunities that will inevitably arise.\u201d<\/p>\n
It added that it could not provide any guidance for profits in this financial year, but added that it expected to carry 60 million passengers this year.<\/p>\n
It said: \u201cFY21 will be a very challenging year for the Ryanair Group of airlines.<\/p>\n
\u201cIt is impossible to predict how long the Covid-19 pandemic will persist, and a second wave of Covid-19 cases across Europe in late autumn (when the annual flu season commences) is our biggest fear right now.<\/p>\n
\u201cHopefully EU governments, by implementing effective track and tracing systems, and EU citizens by complying with recommended face masks, rigorous hand hygiene and other measures, will avoid the need for further lockdowns or restrictions on intra-EU flights.<\/p>\n
\u201cIt is vital that European economies begin the process of recovery this summer to minimize the damage arising from the Covid-19 pandemic and this recovery can only be led by intra-EU air travel which is the engine of EU growth and economic activity.\u201d<\/p>\n