The Irish low-cost airline Ryanair posted the figures for the quarter ended in September. The numbers are reflecting the #pandemic's effects on this sector.
For #Q2, Ryanair posted a loss of €197 million, compared to profits of €1.15 billion posted same quarter last year. Also, it announced earnings per share of $0.24 (according to yahoo.com), on revenue of €1.22 billion. While the revenue came in line with the expectations, the EPS beat the $0.25 forecasted.
Ryanair's operating costs dropped 67% from the same time last year to €1.35 billion.
The company didn't provide any guidance, but it stated that it would have a "significantly reduced flying scheduled in the next six months compared to its original expectations as governments across Europe tighten social restrictions." At an intra-European level, the company expects the travel capacity to remain below the pre-pandemic levels for the next years.
Despite the losses reported, Ryanair's #stock price gained more than 2% after the news. Since the beginning of the year, the company's stock price fell 8%. TECH100 gained 21.61%.
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Sources: finance.yahoo.com, cnbc.com, investing.com
