Ryanair profits top €1bn but outlook ‘difficult’
Ryanair has announced profits of just over €1bn (£894bn) for the year to the end of March, saying it will weather the coronavirus pandemic and emerge stronger.
The airline’s profit was 13% up on the previous year’s figure of €885m.
Ryanair is set to cut 3,000 jobs – 15% of its workforce – as it restructures to cope with the coronavirus crisis.
Ryanair said 2021 would be a “difficult” year as it worked hard to return to scheduled flying.
But it said its balance sheet was one of the strongest in the industry, with cash reserves of more than €4bn.
“Unlike many flag carrier competitors, Ryanair will not request or receive state aid,” it added.