Ryanair says business 'continues to be challenging' as traffic falls 81%

Passenger aircraft, operated by Ryanair Holdings, stand on the tarmac at London Stansted Airport in Stansted, U.K., on May 1, 2020.

Chris Ratcliffe | Bloomberg | Getty Images

LONDON — Ryanair reported a full-year net loss of 815 million euros ($989 million) on Monday as Covid-19 restrictions saw its traffic levels slide 81%.

Analysts had forecast a net loss of 933 million euros for the 12 months ending in March, according to Refinitiv.

The budget airline said the new fiscal year "continues to be challenging, with uncertainty around when and where Covid lockdowns and travel restrictions will be eased."

This is a breaking news story and it is being updated.

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