Virus sends Ireland’s Ryanair into 1.0 bn-euro annual loss ...Middle East

LONDON: Ryanair suffered an annual net loss of 1 billion euros (RM 5 billion) as the coronavirus pandemic grounded the global aviation sector, the Irish no-frills carrier announced on Monday.The earnings for 12 months to the end of March compared with profit after tax totalling 649 million euros (RM 3.2 billion) in 2019/20.Stripping out fluctuations to oil and foreign exchange prices, the loss after tax came in at 815 million euros (RM 4 billion).Annual revenue meanwhile slumped 81% to 1.64 billion euros (RM 8.2 billion).Ryanair described the year as “the most challenging” in its 35-year history.Passenger traffic dived 81% to 27.5 million from 149 million.“As we look beyond the Covid-19 cris

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