Ryanair recorded a loss of 306 million euros (£222.6 million) for the last three months of 2020.
In what the airline called “the most challenging year in history,” Ryanair saw passenger numbers surge from almost 80% to 8 million.
The 360 million euro loss is compared to the 88 million euro profit seen by the group in the same period last year. Group revenues fell 82%, down from 19.1 billion euros (1.7 billion pounds) to 340 million euros (302 million pounds).
As the pandemic continues to impact travel, Ryanair has said it is a track of record losses of 850 million euros and 950 million euros.
A group spokesman said: “As soon as the Covid-19 virus recedes, and over the next few months as the EU government accelerates vaccine rollout, Ryanair and its partner airports will be rebounding schedules, recovering traffic losses, and the country will be able to quickly recover Help the nation. Europe will restart the tourism industry and create jobs for young people in EU cities and beaches.
“We have some comfort from the success of the UK vaccine programme, which has achieved its goal of vaccinating nearly 50% (30m) of the UK population by the end of March. The EU is currently in line with the UK’s performance. It will need to strengthen the slow pace of the deployment program.”
It said it expects to fly 30 million passengers for the fiscal year ending March 2021. This is down from 152 million.
Group CEO Michael O’Leary told BBC Breakfast: People are tired of it. Everyone is looking forward to summer. Vaccines are a step forward here. The lockdown isn’t like that. ”
Ryanair shares (LON: RYA) trade +0.14% at 14,22 (0835GMT). Since the start of the year, stocks have fallen from a high of 17,10.
