Ryanair reported losses after summer season for the first time in the last 30 years

Ryanair reported losses of 226 million euros in the third quarter of 2020, compared to a profit of 910 million euros in the same period in 2019, amid travel restrictions imposed by European Union governments.

It is the first time in the last 30 years that the Irish airline has reported losses in the summer season.

Revenue fell by 78% to €1.18bn as traffic fell 80% to 17.1m. With almost zero Q1 traffic, the vast majority of H1 revenue was earned in Q2.

On Monday, Ryanair shares were down 1%, while low-cost airline easyJet and International Airlines Group (owner British Airways) fell by more than 5% after the British government imposed a new national lockdown.

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