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RYANAIR REPORTS FULL YEAR LOSS OF € 815M AS TRAFFIC FALLS 81 % DUE TO COVID - 19 TRAVEL RESTRICTIONS Ryanair Holdings plc today ( 17 May ) reported a full year loss of € 815m ( excl . hedge ineffectiveness ) , compared to a PY profit of € 1,002m . Features of FY21 included : • FY21 traffic fell 81 % from 149m to 27.5m due to Covid - 19 restrictions . • ● • • • • • Liquidity preservation prioritised with € 3.15bn cash at year end ( 31 Mar. ) . Cost reductions implemented across all Group airlines . FY end Unprecedented backlog of Covid customer requests / refunds processed . Job losses minimised via engagement with our people & unions . B737-8200 " Gamechanger " firm order increased to 210 aircraft ( from 135 ) . CDP awarded very strong ( first time ) " B- " climate protection score . Non - EU shareholder voting rights were restricted post Brexit . Customers Load Factor Revenue Op . Costs PAT / ( Net Loss ) * 31 Mar. 2020 148.6m 95 % € 8.49bn € 7.37bn € 1,002m 31 Mar. 2021 27.5m Change -81 % 71 % -24pts € 1.64bn -81 % € 2.48bn -66 % ( € 815m ) n / m * Non - IFRS financial measure , excl . FY21 € 200m except . hedge ineffectiveness charge ( FY20 : € 353m charge ) . COVID - 19 : FY21 was the most challenging in Ryanair's 35 - year history . Covid - 19 saw traffic collapse , almost overnight , from 149m to just 27.5m as many European Govts . ( with little notice or co - ordination ) imposed flight bans , travel restrictions and national lockdowns . There was a partial recovery during summer 2020 , as initial lockdowns eased , however a second Covid - 19 wave in Europe followed quickly in the autumn with a third wave in spring . This created enormous disruptions and uncertainty for both our customers and our people , as they suffered constantly changing Govt . guidelines , travel bans and restrictions . Ryanair responded promptly , and effectively , to this crisis , by working hard to assist millions of customers with flight changes , refunds and changed travel plans . We minimised job losses through agreed pay cuts and participation in Govt . job support schemes , while at the same time keeping our pilots , cabin crew and aircraft current and ready to resume service once normality returns . The Covid - 19 crisis precipitated the collapse of a number of EU airlines including Flybe , Norwegian , Germanwings and Level and substantial capacity cuts at many others . It sparked a tsunami of State Aid from EU Govts . to their insolvent flag carriers including Alitalia , AirFrance / KLM , LOT , Lufthansa , SAS , TAP and others , which will distort EU competition and prop up high cost , inefficient , flag carriers for many years . We expect intra - European air travel capacity to be materially lower for the foreseeable future . This will create opportunities for Ryanair to extend airport growth incentives , as the Group takes delivery of 210 new ( lower cost ) Boeing 737s . We are encouraged by the recent release of multiple Covid - 19 vaccines and hope that their rollout will facilitate the resumption of intra - Europe air travel and tourism this summer . If , as is presently predicted , most European populations are vaccinated by Sept. , then we believe that we can look forward to a strong recovery in air travel , jobs and tourism in H2 of the current fiscal year ( FY22 ) . The recent strong increases in weekly bookings since early April suggests that this recovery has already begun . THE ENVIRONMENT : Ryanair has shown that we can grow low fare traffic while reducing our impact on the environment . Every passenger that switches to Ryanair from one of Europe's legacy airlines cuts their CO2 emissions by almost 50 % per flight . Over the next 5 - years Ryanair's traffic will grow to 200m p.a. This will be achieved in a manner that balances the desire for low fares with the need for sustainable flying . Ryanair's $ 20bn + investment in new technology aircraft will be pivotal in achieving this ambition . The new B737-8200 " Gamechanger " aircraft offers 4 % more seats , but delivers a 16 % lower fuel burn and 40 % lower noise emissions which will help Ryanair to lower its CO2 and noise footprint over the next decade .