Ryanair says business ‘continues to be tough’ as ​​traffic drops 81%


Passenger jets, operated by Ryanair Holdings, stand on the tarmac at London Stansted Airport in Stansted, UK on May 1, 2020.

Chris Ratcliffe | Bloomberg | Getty Images

LONDON – Ryanair reported a full-year net loss of 815 million euros ($ 989 million) on Monday, as Covid-19 restrictions saw its traffic levels drop 81%.

Analysts had forecast a net loss of 933 million euros for the 12 months ending in March, according to Refinitiv.

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The low-cost airline said the new fiscal year “continues to be difficult, with uncertainty as to when and where Covid lockdowns and travel restrictions will be eased.”

This is breaking news and is being updated.