Europes largest low cost airline ushers in falling cliff financial report: passenger volume plummeted by 99percent

category:Finance
 Europes largest low cost airline ushers in falling cliff financial report: passenger volume plummeted by 99percent


Ryanairs entire fleet was grounded for about four months (from mid March to the end of June) due to the strict blockade measures imposed by various countries. Since then, Europes economic weight has opened up and airlines have returned to the sky, but social distance measures and quarantine policies have limited some operations.

Ryanair said it expected traffic to decline by 60% in 2020 / 2021, and the uncertainty caused by the pandemic prevented it from providing further performance guidance for this year. But a little relieved is that Ryanair expects to emerge from the economic crisis earlier than its competitors due to its lower cost.

Ryanair has been tightening its belt since the outbreak, cutting costs by 85% in the first quarter, including negotiating a pay cut with employees. Ryanair said its balance sheet was one of the strongest in the industry, with total cash of more than 3.9 billion euros as of June 30. Since mid March, action has been taken to retain cash, cut costs, cancel share buybacks and postpone all unnecessary capital expenditures. Ryanair is also worried that EU and UK negotiators will not be able to reach a brexit agreement by the end of this year. Brexit, especially without an agreement, is a high risk. We hope that before the end of the transitional period in December, the UK and Europe will reach a trade agreement on air travel, making free mobility possible. Ma Huateng has made a big purchase! The input method used by Chinese netizens has soared by 7 billion yuan. The first share of the registration system on the gem has come: and these new shares are waiting to be issued and shrink by 200 billion in half a year! The worlds largest hedge fund laid off dozens of employees_ NF5619

Ryanair has been tightening its belt since the outbreak, cutting costs by 85% in the first quarter, including negotiating a pay cut with employees.

Ryanair is also worried that EU and UK negotiators will not be able to reach a brexit agreement by the end of this year. Brexit, especially without an agreement, is a high risk. We hope that before the end of the transitional period in December, the UK and Europe will reach a trade agreement on air travel, making free mobility possible.