By Anthony O. Goriainoff

Ryanair Holdings PLC on Monday reported a swing to loss for the second quarter of fiscal 2021 as it flew less passengers due to the coronavirus pandemic and related travel restrictions, and said it expects to report higher loses in the second half.

For the quarter ended Sept. 30, the European budget airline made a net loss of 225.5 million euros ($262.6 million), compared with a profit of EUR910.2 million a year ago. Stripping out exceptionals, it made an adjusted loss after tax of EUR22.6 million for the quarter.

Revenue for the quarter was EUR1.05 billion down from EUR3.08 billion for the same period last year.

For the six months as a whole, Ryanair reported an adjusted loss after tax of EUR196.5 million.

The company said it expects to accept delivery of the Boeing 737 MAX-200 aircraft in early 2021, and compensation talks won't be finalized until the aircraft return to service and revised delivery schedules can be finalized and agreed.

Ryanair said fiscal 2021 will continue to be challenging and, given the current uncertainty stemming from the pandemic, it can't provide any profit after tax guidance at present.

It reiterated that although it expects to carry around 38 million passengers for the year, this could be revised downward should EU governments impose further travel restrictions or lockdowns during the winter season.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

November 02, 2020 01:23 ET (06:23 GMT)

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