Ryanair expects a 200-million-euro loss in the first quarter. Ryanair said it expected to post a “smaller loss” in the peak summer second quarter than in the first three months of its financial year. The airline said it could not provide full-year profit guidance for 2021 at this time because of “uncertainty over the impact and duration” of the Covid-19 pandemic. Ryanair has also taken a €353m hit due to a wrong-way bet on the cost of jet fuel in the current year because of plunging prices in the wake of the coronavirus crisis.
Comparison to more state-owned company, for example, Norwegian Air. After the company published, that to its issue of new equity was completed. The company’s rescue plan, selling new stock and converting debt to equity, will lead to a massive stake dilution for existing shareholders, increasing the number of shares in the company to about 3.5 billion from only 163.6 million. After announcing on Monday, the company’s shares lost more than 50% of Friday’s price.
Citing coronavirus, however, Ryanair said it remained “in active negotiations” with Boeing to reduce planned deliveries in the next 24 months to reflect slower traffic growth post-COVID-19 in 2020 and 2021.
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