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Slow vaccine rollout in the EU and Easter travel restrictions are blamed for the low number of Ryanair passengers.


Ryanair
RYA,
+ 0.92%

said on Wednesday it expected damage for the year to be slightly lower than initially thought, but predicted that it would carry fewer passengers next year due to travel restrictions during Easter birth and the European Union’s COVID-19 vaccination program has been slowly underway.

Ireland’s budget carrier is expected to report net losses ahead of specials between 800 million euros and 850 million euros ($ 949.9 million to $ 1.01 billion) for the year ending. in March 2021, slightly better than that instructions in advance in February it is between 850 million euros and 950 million euros for this period.

It now predicts passenger numbers for the year ending March 2022 will be lower than the previously guided range of between 80 million and 120 million.


“Vehicle restriction / lockdown during Easter and delayed traffic recovery during S.21 peak season, due to slow rollout of COVID-19 vaccine in the European Union, means traffic Access in FY 22 will likely be at the end of our previously guided range of 80 million to 120 million passengers. ”


– Ryanair

“While it is not possible to give meaningful guidance on FY2022 returns at this time, we do not share some analysts’ recent optimism as we believe results for the year. Financial 2022 is now near breakeven, ”Ryanair said in one declare on Wednesday.

Shares in Ryanair, which have risen 3.16% year-to-date, have risen 1.10% in early London trading on Wednesday.

The news also increased shares in rival airline easyJet
EZJ,
+ 0.89%
,
saw its shares up 1.06%, while owners of British Airways International Airlines Group
IAG,
+ 1.58%

saw its shares up 1.42%.

Airlines like Ryanair
RYAAY,
-0.77%

introduced new summer routes in an effort to attract tourists to travel as coronavirus constraints abate. 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: Amidst all the vaccine hurdles, the EU battles to save the summer vacation with the COVID travel card

Following Prime Minister Boris Johnson’s four-step itinerary to help the UK escape its third ban, overseas holidays will be banned as early as May 17.

However, Johnson on Monday warned everyone have not booked summer vacation yet, said that it is too early for the government to commit to allowing overseas vacations because of the risk of importing more contagious variants of coronavirus, which is the cause of the widespread spread of infectious diseases. Europe.

Read: United, Alaska shares are lifted on a ‘clear path to reopening’ for the air travel industry

When the ban on unnecessary foreign travel is lifted, it will be replaced with a risk-based ban, three-storey traffic light system to categorize countries for international travel to and from the UK.

“This new category will be relevant to countries where we have a lower risk assessment, for example based on vaccination, prevalence of infection, prevalence of variations of interest, and accountability. their genome sequence (or the ability to access genome sequencing), ”the government said in the report.

The government’s Global Travel Task Force will release its report, detailing the system, later this week.

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