Skip navigation

Gloucestershire Business News

First loss in five years for budget airline

Ryanair posted a net loss of £17.2m for the last three months of the year, its first loss since March 2014.

The budget airline carried 32.7 million passengers compared with 30.4 million for the same period a year earlier, as revenue rose nine per cent to £1.34bn, as reported but the BBC.

But the airline said "excess winter capacity in Europe" had eaten into its profit and blamed too many airlines chasing too few passengers.

In addition, the company's fuel bill increased by 32 per cent and its staff costs rose 31 per cent. In total, Ryanair's operating costs rose 20 per cent to £1.35bn.

Other airlines have been hit harder by the rising fuel costs, with Flybe and WOW among those who are seeking buyers.

Related Articles

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Wednesday, June 3 Image

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Wednesday, June 3

The latest important news and updates from across Gloucestershire as the coronavirus crisis continues.

New man steps up to pilot Raytheon Image

New man steps up to pilot Raytheon

Raytheon UK has appointed a new chief executive and managing director.

All systems go for new £4.9m medical centre Image

All systems go for new £4.9m medical centre

Work on a new medical centre in Stroud town centre could get underway later in the year following the exchange of contracts between two GP surgeries and the developer.

Planning for Recovery: Expert advice to get on the right track Image

Planning for Recovery: Expert advice to get on the right track

An expert panel from Ops-Box Group, Hughes Paddison and Harper Sheldon gave advice to businesses on planning for recovery after the coronavirus pandemic in an online session.

Copyright 2020 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.