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Ryanair revenue fell 95%

Christian Fernsby ▼ | July 27, 2020
Ryanair revenue fell by 95% (almost €2.2bn) to just €125m as traffic dropped 99% at just 0.5m.
95%   Ryanair
An 85% reduction in costs during Q1 was not sufficient to offset this revenue loss as bookings came to an abrupt standstill in the initial weeks of the Covid-19 crisis.

Topics: Ryanair

During the past 3 months significant work has been undertaken to improve Ryanair’s cost leadership, which is vital if Group airlines are to compete against hugely subsidised flag carriers who will be able to engage in below cost selling for years to come.

The Group have negotiated modest pay cuts with our people and their unions that will, hopefully, help to avoid widespread job losses.