Ryanair sees annual loss near the middle of forecast range

Ryanair Chief Executive Michael O'Leary attends a Reuters Newsmaker event in London
FILE PHOTO: Ryanair Chief Executive Michael O'Leary speaks during a Reuters Newsmaker event in London, Britain October 1, 2019. REUTERS/Peter Nicholls

March 31, 2022

BRUSSELS (Reuters) – Ryanair expects its loss for the just-ending financial year at around the middle of its forecasted range and is well placed for next year depending on traffic recovery and fares, its chief executive said on Thursday.

Asked on the sidelines of an A4E airlines conference about Ryanair’s loss forecast of 250-450 million euros for the year to March 31, CEO Michael O’Leary told Reuters: “we think we’ll be somewhere in the middle of that range”.

Asked whether the year to end-March 2023 could see a return to pre-pandemic profits around 1.5 billion euros, he said: “There’s a chance but it all depends on pricing. I mean, certainly our costs are reasonably robust for the next 12 months.”

(Reporting by Tim Hepher; editing by Jason Neely)