Ryanair RYA, + 1.10% said on Wednesday that they expect losses for the year to be slightly lower than previously thought, but predicted that it would carry fewer passengers over the next year due to Easter travel restrictions and the slow spread of the European Union COVID. 19 vaccination program. The Irish budget carrier expects to report a net loss before one-off items of between € 800 million and € 850 million ($ 949.9 million to $ 1.010 million) for the year ending March 2021, slightly better than its guidance. earlier in February of between € 850 million and € 950 million for the period.
“While it is not possible at this time to provide meaningful guidance to earnings for fiscal 2022, we do not share the recent optimism of certain analysts, as we believe that the result for fiscal 2022 is currently near breakeven.” Ryanair said in a statement. on Wednesday. Ryanair shares, which are up 3.16% so far this year, rose 1.10% in early London trading on Wednesday. The news also raised shares of rival airline easyJet EZJ, + 0.84%, which saw its shares rise 1.06%, while British Airways International Airlines Group owner IAG, + 1.79% saw its shares rise. shares rise 1.42%. Airlines like Ryanair RYAAY, -0.77% have introduced new summer routes in an effort to attract tourists to travel when coronavirus restrictions ease. In March, Ryanair announced 26 new destinations in Greece, Portugal and Spain and plans to operate a total of 2,000 weekly flights on 400 summer routes. Read: Amid Vaccine Hurdles, EU Battles To Save Summer Holidays With COVID Travel Pass Under Prime Minister Boris Johnson’s Four-Step Roadmap To Bring The UK Out Of Its Third Blockade , vacations abroad are prohibited until May 17 at the earliest. However, Johnson on Monday warned people not to book summer vacations just yet, saying it was too early for the government to commit to allowing vacations abroad because of the risk of importing more contagious variants of the coronavirus, which they are behind an increase in infections in Europe. Read: United and Alaska Stocks Update on a ‘Clear Path to Reopening’ for Air Travel Industry When the ban on non-essential foreign travel is lifted, it will be replaced by a three-tier stoplight system based on the risk to classify countries for international flights. travel to and from England. “This new category will be adapted to countries where we judge the risk to be lower, based, for example, on vaccines, infection rates, the prevalence of variants of interest, and their genomic sequencing capacity (or access to genomic sequencing), “the government said in a statement. The government’s Global Travel Taskforce will publish its report, with more details on this system, later this week.