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air traffic

Ryanair reported H1 loss of €197 mln as traffic plunges 80%

5 mins read

The FINANCIAL — Ryanair Holdings plc reported a H1 loss of €197m, compared to a PY H1 profit of €1.15bn. Highlights of this 6-month period include: 99% of the fleet grounded from mid-March to end June. Successful return to service implemented 1 July. H1 traffic fell from 86m to 17m. Cost reduction measures implemented across business. Successful €1.25bn financing raised in Sep. (equity placing & eurobond). Cash prioritised. Closing cash €4.5bn. Over €1.5bn debt due in 2021 (incl. £600m UK CCFF & €850m Jun’14 bond).   H1 (IFRS) – Group* 30 Sep. 2019 30 Sep. 2020 Change Customers 85.7m 17.1m…

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Ryanair reported H1 loss of €197 mln as traffic plunges 80%

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5 mins read

The FINANCIAL — Ryanair Holdings plc reported a H1 loss of €197m, compared to a PY H1 profit of €1.15bn. Highlights of this 6-month period include: 99% of the fleet grounded from mid-March to end June. Successful return to service implemented 1 July. H1 traffic fell from 86m to 17m. Cost reduction measures implemented across…

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BA to cut up to 12 000 jobs while Lufthansa plans to axe 22 000

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The FINANCIAL — British Airways plans to axe almost 30 per cent of the airline’s workforce. Airline says that the financial impact of Covid-19 is already greater than 9/11, SARS, the ash cloud and the financial crash of 2008/09 combined. Lufthansa also plans reduction of 22,000 full-time jobs as coronavirus pandemic led to an 80 percent drop in…

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