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Ryanair Slips To Loss In Q3; Expects ' Most Challenging Year' - Quick Facts

Low fares airline Ryanair Holdings Plc. (RYA.L,RYAAY) reported that its third-quarter net loss was 320.8 million euros or 0.2849 euros per share, compared to net income of 87.8 million euros or 0.0784 euros per share in the previous year.

Total revenue for the third-quarter fell by 82% to 341.2 million euros from last year, as traffic shrank by 78% to 8.1 million. The group recorded a 15 million euros exceptional ineffectiveness charge on fuel and currency hedges in the third-quarter, due to ongoing travel restrictions, reduced fourth-quarter traffic and a revised aircraft delivery schedule.

Looking ahead, the company said fiscal year 2021 will continue to be the most challenging year in the company's 35 year history. Due to recent Covid lockdowns and travel restrictions across the EU & UK, the company reduced its fiscal year 2021 traffic forecast to a range of 26 million passengers - 30 million passengers from the prior outlook of up to 35 million passenger, with more risk towards the lower end of the range.

While the fourth-quarter visibility remains limited due to uncertain and constantly changing Covid-19 travel restrictions, European Govt lockdowns, the timing of the rollout of vaccines across the EU and a very close-in booking curve, the company said it is cautiously guiding an fiscal year 2021 net loss, pre-exceptional items, of between 850 million euros and 950 million euros.

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