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The Irish low-cost airline Ryanair is expecting the highest annual loss in its 35-year company history due to the corona pandemic.
In the financial year up to the end of March, Ryanair will probably make a loss of 850 to 950 million euros, the airline announced on Monday.
The 2021 financial year will also be one of the “most challenging” in the company's history.
The corona pandemic is causing "devastation" in the industry.
Ryanair made a loss of 306 million euros between October and December, the airline further announced.
Sales fell by 82 percent to 840 million euros.
Ryanair carried 8.1 million passengers, 78 percent fewer than in the same period last year.
"We had hoped that things would continue to improve in the third quarter," said Ryanair boss Michael O'Leary.
But shortly before Christmas, the new virus mutants would have led to stricter restrictions again.
He does not expect air traffic to pick up again until Easter.
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Ryanair will carry between 26 and 30 million passengers in the current financial year, according to the forecast.
Before the Corona crisis, the airline had expected 155 million customers.
The airline has already cut 3,000 jobs, around 15 percent of the jobs.
The company also cut wages.
Ryanair received a £ 600 million loan from a UK government aid program.