10 Mar 2020 12:30
RYANAIR FY20 TRAFFIC CUT FROM 154M TO 151M DUE TO ITALIAN GOVT RESTRICTIONS
NO MATERIAL CHANGE TO FY20 PAT GUIDANCE
Ryanair today (10 March) advised that it will lower its FY20 (31 March 2020) passenger target by 3m from 154m to 151m. This is a direct result of the suspension of all Ryanair flights to/from Italy, between 13 March and 8 April, in response to the Italian Government's "lock down" of travel to/from Italy, in addition to a number of other EU countries (Slovakia, Czech Republic, Hungary, Malta, Romania, Austria) unilaterally restricting flights to/from Italy.
Ryanair does not expect these traffic reductions to have a material impact on FY20 (31 March 2020) PAT guidance. It is far too early to assess the impact of Covid-19 on FY21 traffic and earnings. The Ryanair Group will continue to focus on delivering cost savings and improved operational efficiency in FY21. 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.
ENDS
This announcement contains inside information.
For further information
please contact: Shane O'Toole Piaras Kelly
Ryanair Edelman Ireland
Tel: +353-1-9451212 Tel: +353-1-6789333
RyanairIR@ryanair.com ryanair@edelman.com