![\"\"](\"http:\/\/irishexaminerusa.com\/wp\/wp-content\/uploads\/2021\/02\/2.53308273.jpg\")
Ryanair said it is braced for \u201cthe most challenging year\u201d in its 35-year history and expects to post a full-year loss of nearly \u20ac1 billion.<\/p>\nRyanair said it is braced for \u201cthe most challenging year\u201d in its 35-year history and expects to post a full-year loss of nearly \u20ac1 billion.<\/p>\n
The Dublin-based low-cost carrier said coronavirus continues to \u201cwreak havoc across the industry\u201d and is \u201ccautiously guiding\u201d a net loss this year of between \u20ac850 million and \u20ac950 million.\u201d<\/p>\n
However, the airline said it would be in a position where it could \u201ccapitalize on the many growth opportunities\u201d after the pandemic, \u201cespecially where competitor airlines have substantially cut capacity or failed\u201d.<\/p>\n
The company announced third-quarter losses of \u20ac307 million on Monday, adding that in the three months to December, 8.1 million passengers used Ryanair, compared to 35.9 million in the same quarter in 2019.<\/p>\n
The loss for the quarter contrasts with an \u20ac88 million profit after tax in the same period a year before.<\/p>\n
Compared with the same quarter in 2019, revenue fell 82 per cent from \u20ac1.91 billion to \u20ac0.34 billion, and operating costs also fell 63 per cent from \u20ac1.81 billion to \u20ac0.67 billion.<\/p>\n
The firm said: \u201cAs we look beyond the Covid-19 crisis, and vaccinations roll out, the Ryanair Group 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 to capitalize on the many growth opportunities that will be available in all markets across Europe, especially where competitor airlines have substantially cut capacity or failed.\u201d<\/p>\n