Shares of Ryanair Holdings PLC (LON: RYA) rose over 4% despite the fact that passenger numbers fell 80% in the first half of its latest financial year ending September 30
The airline said its revenue crashed by 78% to €1.1 billion to transform last year’s €1.15 billion profit into an after-tax loss of €197 million. Costs were reduced by 67% to €1.35 billion.
The loss has left the budget carrier with €4.5 billion in cash at the end of September. The company expects to fly only 38m passengers over the full year.
Interested in investing after today’s move?
XTB gives investors access to thousands of UK and international stocks,
including fractional shares from just £1.
Explore stocks with XTB →
Your capital is at risk. The value of your investments may go up or down. Past performance is not a reliable indicator of future performance.
Want to invest in the stocks making the news?
Go from following the market to investing in it, with access to thousands
of stocks across major UK and international markets.
See available stocks →
Your capital is at risk. The value of your investments may go up or down. Past performance is not a reliable indicator of future performance.
Own the stocks you’re reading about
Invest in real shares across the UK, US and other major global markets
through XTB, all from one investment account.
Explore XTB shares →
Your capital is at risk. The value of your investments may go up or down. Past performance is not a reliable indicator of future performance.
You don’t need to buy a whole share
Fractional shares let you invest from just £1, giving you more control
over how much you put into individual companies.
Explore fractional shares →
Your capital is at risk. The value of your investments may go up or down. Past performance is not a reliable indicator of future performance.
Want to see how XTB works first?
Explore the platform with an XTB demo account before deciding whether
you want to invest with real money.
Try the XTB demo →
Your capital is at risk. The value of your investments may go up or down. Past performance is not a reliable indicator of future performance.
“As we look beyond the Covid-19 crisis, and the emergence of effective vaccines in early 2021, the Ryanair Group expects to have a lower cost base, a stronger balance sheet, which will enable it to fund lower fares, and add new lower-cost aircraft to capitalise on the many growth opportunities that will be available in all markets across Europe,” Ryanair said in the statement.
Ryanair share price gained more than 4% to erase about half of the last week’s losses.
PEOPLE WHO READ THIS ALSO VIEWED:
