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RYANAIR REPORTS Q1 LOSS OF € 273M AS EASTER TRAVEL CANCELLED VACCINE ROLLOUTS & EU DIGITAL COVID CERTS DRIVE STRONG BOOKING RECOVERY INTO PEAK SUMMER 2021 Ryanair Holdings plc today ( 26 July ) reported a Q1 loss of € 273m , compared to a PY Q1 loss of € 185m . Features of this Q1 performance included : ● Q1 traffic rebounded from 0.5m to 8.1m as capacity recovered in May & June . for peak 21 ) . 1st B737-8200 " Gamechanger " delivered in June Strong June cash balance of € 4.06bn ( up from € 3.15bn at 31 Mar. ) . € 1.2bn 5 - year unsecured bond issued in May at record low 0.875 % coupon . Net debt fell from € 2.28bn at 31 Mar. to € 1.66bn at 30 June ( € 850m bond repaid in June ) . 379 new routes & 10 new bases announced for 2021 . Customer Advisory Panel appointed - 1st meeting in Sept. Q1 - Group Customers Load Factor Revenue Op . Costs Net Loss 30 Jun . 2020 0.5m 61 % € 125m € 313m ( € 185m ) Ryanair Holdings Group CEO , Michael O'Leary , said : 30 Jun . 2021 8.1m 73 % € 371m € 675m ( € 273m ) Change + 7.6m + 12pts + 196 % + 116 % -47 % " COVID - 19 : Covid - 19 continued to wreak havoc on our business during Q1 with most Easter flights cancelled and a slower than expected easing of EU Govt . travel restrictions into May and June . Significant uncertainty around travel green lists ( particularly in the UK ) and extreme Govt . caution in Ireland meant that Q1 bookings were close in and at low fares . We kept aircraft and crews current throughout the quarter and recruited additional cabin crew to enable us recover quickly in Q2 as Covid restrictions ease . The 1st July rollout of EU Digital Covid Certificates ( " DCC " ) and the scrapping of quarantine for vaccinated arrivals to the UK from mid - July has seen a surge in bookings over recent weeks . Pricing remains below pre Covid - 19 levels and there will continue to be great value for Ryanair guests travelling this summer as we focus on recovering traffic , jobs and tourism across our European network . Based on current ( close - in ) bookings , we expect traffic to rise from over 5m in June to almost 9m in July , and over 10m in Aug. , as long as there are no further Covid setbacks in Europe . We will continue our load active / yield passive strategy as we recover load factors over the course of FY22 . The Covid - 19 crisis has triggered the collapse of many European airlines including Flybe , Norwegian , Germanwings , Level and Stobart and led to substantial capacity cuts at many others including Alitalia , TAP , LOT , SAS , etc. The tsunami of State Aid from EU Govts . to their insolvent flag carriers ( Alitalia , AirFrance / KLM , LOT , Lufthansa , SAS , TAP and others ) will distort EU competition and prop up high cost , inefficient , flag carriers for many years . We expect intra - European capacity to be materially lower for the foreseeable future . This will create growth opportunities for Ryanair to extend airport incentives , as the Group takes delivery of 210 new Boeing 737 “ Gamechanger " aircraft . We are encouraged by the high rate of vaccinations across Europe . If , as is presently predicted , most of Europe's adult population is fully vaccinated by Sept. , then we believe that we can look forward to a strong recovery in air travel for the second half of the fiscal year and well into S.22 - as is presently the case in domestic US air travel . THE ENVIRONMENT & CUSTOMER SERVICE : Ryanair has repeatedly shown we can grow traffic while reducing our impact on the environment . Every passenger that switches to Ryanair from Europe's legacy airlines reduces their CO2 emissions by almost 50 % per flight . Over the next 5 - years our traffic will grow to 200m p.a. This will be achieved on a fleet that balances the demand for low fares with the need for sustainable flying . Our new B737-8200 " Gamechanger " aircraft ( a $ 22bn + investment ) offers 4 % more seats , but delivers 16 % lower fuel burn and 40 % lower noise emissions , helps to meaningfully lower Ryanair's CO₂ and noise footprint over the next decade .