Budget carrier Ryanair is expecting a full-year net loss of €350-400 million ($385-440 million), prior to exceptional items.
This is towards the higher end of the previously-guided loss range of €250-450 million for the airline, whose financial year closed on 31 March.
Ryanair says its full-year passenger numbers recovered to more than 97 million but were still far below the pre-pandemic level of 149 million.
Its average load factor for the 12 months reached 82% compared with the 71% recorded a year ago.
The airline stresses that its balance sheet is “one of the strongest in our sector”.
Its net debt fell from €2.3 billion to €1.5 billion by the end of the financial year. The airline adds that about 90% of its group fleet of Boeing 737s are unencumbered.
Ryanair, which will disclose its full-year results on 16 May, has raised its fiscal 2022-23 fuel hedging to 80% cover.
