Ryanair reports first quarter loss of €273m as Easter travel cancelled

Ryanair Holdings has reported a first quarter (Q1) 2021 loss of €273 million, compared to a prior year Q1 loss of €185 million. The low-cost airline reported that Q1 traffic rebounded from 0.5 million to 8.1 million as capacity recovered in May and June. Revenue climbed to €371 million during the period, but with higher operating costs – driven primarily by variable costs such as fuel, airport & handling and route charges – the loss widened from the prior year. Ryanair retained a strong June cash balance of €4.06bn up from €3.15bn at 31 March, boosted by the successful issuance