Ryanair, which operates more than 30 routes out of Liverpool John Lennon Airport, says it is too early to assess the potential longer-term impact of coronavirus on its business. Tony McDonough reports
Low-cost airline Ryanair has lowered its full-year passenger target by 3m as a result of a suspension of flights to Italy due to the coronavirus lockdown.
However, the carrier, which operates more than 30 routes out of Liverpool John Lennon Airport, says it is far too early to assess the potential longer-term impact of the health crisis on its business.
All Ryanair flights to and from Italy will be suspended from March 13 to April 8 in response to the Italian Government’s ‘lock down’ of travel to and from the country. A number of other countries including Slovakia, the Czech Republic, Hungary, Malta, Romania and Austria are also unilaterally restricting flights to and from Italy.
The airline’s current financial year ends on March 31, 2020, and as a result of the restrictions it is lowering its passenger target from 154m to 151m. However, it doesn’t expect the traffic reductions to have a material impact on revenues.
In a statement, Ryanair said: “It is far too early to assess the impact of Covid-19 on full-year 2021 traffic and earnings. The Ryanair group will continue to focus on delivering cost savings and improved operational efficiency.
“Ryanair is one of the strongest airlines in the industry with €4bn in cash, industry leading unit costs, 90% of the fleet is owned with over 70% debt free.”