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| Ryanair swings to loss in 'challenging' pandemic | Ryanair swings to loss in 'challenging' pandemic |
| (32 minutes later) | |
| Ryanair plunged into loss in the first three months of the financial year after what it called the most challenging period in its history. | Ryanair plunged into loss in the first three months of the financial year after what it called the most challenging period in its history. |
| With more than 99% of its fleet grounded because of the pandemic, the airline reported a loss of €185m (£169m) over the April-to-June period. | With more than 99% of its fleet grounded because of the pandemic, the airline reported a loss of €185m (£169m) over the April-to-June period. |
| That compared with a profit of €243m a year earlier. | That compared with a profit of €243m a year earlier. |
| Ryanair said it expected to clear more than 90% of refunds for cancelled flights by the end of July. | Ryanair said it expected to clear more than 90% of refunds for cancelled flights by the end of July. |
| Airlines have been struggling because of global travel restrictions aimed at halting the spread of the coronavirus. | Airlines have been struggling because of global travel restrictions aimed at halting the spread of the coronavirus. |
| Ryanair announced in May it was set to cut 3,000 jobs across Europe. | Ryanair announced in May it was set to cut 3,000 jobs across Europe. |
| However, earlier this month, the company revealed that it had cut a deal with the Unite union, including temporary pay cuts, so that UK cabin crew jobs would be safeguarded. | However, earlier this month, the company revealed that it had cut a deal with the Unite union, including temporary pay cuts, so that UK cabin crew jobs would be safeguarded. |
| The airline later said it was shutting its base at Frankfurt Hahn airport after German pilots voted to reject pay cuts. | The airline later said it was shutting its base at Frankfurt Hahn airport after German pilots voted to reject pay cuts. |
| Rivals slated | |
| In its latest results statement, Ryanair repeated its criticism of rival airlines for receiving what it called "illegal state aid" to stay in business. | In its latest results statement, Ryanair repeated its criticism of rival airlines for receiving what it called "illegal state aid" to stay in business. |
| "Many other airlines are cutting capacity, with the result that air travel in Europe is likely to be depressed for at least the next two or three years," it added. | "Many other airlines are cutting capacity, with the result that air travel in Europe is likely to be depressed for at least the next two or three years," it added. |
| "This will create opportunities for Ryanair... to grow its network and expand its fleet, to take advantage of lower airport and aircraft cost opportunities that will inevitably arise." | "This will create opportunities for Ryanair... to grow its network and expand its fleet, to take advantage of lower airport and aircraft cost opportunities that will inevitably arise." |
| The airline said the challenge of Brexit, and in particular a no-deal Brexit, remained high. | |
| It said it hoped that the UK and EU would agree a trade deal for air travel that would allow the free movement of people and the deregulated airline market between the UK and Ireland to continue. | |
| "As an EU airline, the Ryanair Group should be less affected by a no-deal Brexit than UK registered airlines. We still, however, expect adverse trading consequences to arise," the airline said. | |
| "Ryanair has put the necessary measures in place to ensure that the group remains majority EU owned, including restricting voting rights of non-EU shareholders, in the event of a 'hard Brexit'". | |
| Ryanair said it remained a committed supporter of the "game-changer" Boeing 737 Max plane, which was grounded last year after two crashes killed all 346 people on the flights. | |
| It was due to take delivery of its first 737 Max planes more than a year ago and still hopes to do so before the end of 2020. | |
| The US aviation regulator has started formal test flights for the troubled plane after Boeing overhauled its flight control system. |