Ireland-based carrier Ryanair has announced it is anticipating to fly 100 million passengers this financial year, in light of a strong uptick in forward bookings, and says demand is approaching pre-pandemic volumes.
Previously, the group forecasted a lower range of 80 million to 120 million but Ryanair “cautiously” expects the outcome is “somewhere between a small loss and breakeven”.
These forecasts are not far behind pre-pandemic levels as 2019 saw 149 million yearly passengers, which dropped to 27.5 million in 2020.
Its second-quarter results show a strong rebound of cash balance at €4.06 billion (up from €3.15 billion at 31 March), and reduced debt to €1.66 billion.
Along with the release of its second quarter financial results, the budget airline stated it is expecting passenger traffic to rise to 9 million customers in July and over 10 million in August – significantly up from the 5 million passengers it reported in June.
The uptick comes as the UK continues to ease restrictions, as well as strong vaccination rates across Europe, and the rollout of the EU Digital Covid Certificate (DCC) from July, according to Ryanair.
“We kept aircraft and crews current throughout the quarter and recruited additional cabin crew to enable us recover quickly in Q2 as COVID restrictions ease,” said chief executive Michael O’Leary.
“There will continue to be great value for Ryanair guests travelling this summer as we focus on recovering traffic, jobs and tourism across our European network.”
The EU DCC entered into application on 1 July and provides proof of COVID-19 vaccination, negative test results and/or recent recovery information to speed up airport congestion.
Meanwhile, in June, Ryanair saw an increase of seat capacity at 72 per cent, compared with 67 per cent earlier in the year.
The Irish carrier also introduced 379 routes and 10 new bases for this year.
Ryanair reported its biggest ever annual loss of €815 million for the 2020 financial year, and an 81 per cent drop in passenger traffic, after posting a €1 billion profit the previous year.
Ireland’s aviation industry was hit significantly harder than many European countries as it relies heavily on international travel and implemented tight foreign travel restrictions, CAPA said.
