Ryanair shares hit year’s high as IATA says airlines past worst of crisis

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The world’s airlines are set for recovery according to the industry body, but not before more huge losses in 2022.


IATA director general Willie Walsh said the industry was “past the deepest point” of the coronavirus crisis but serious issues still remain.


Losses in 2022 will be around US$11.6bn, said IATA, against US$137.7bn in 2020 and US$51.8bn this year.


The estimates for both this year and last were higher than originally estimated, though the 2002 forecast is a big improvement on IATA’s worst-case numbers.


Earlier, Ryanair PLC has reported that it carried 10.6mln passengers in September or more than double this time a year ago.


Load factors on its planes also rose to 81% from 71% in September 2020.


Shares in Ryanair rose 2.6% to a year’s high of EUR17.67 while British Airways owner IAG rose 1% to 190.06p, easyJet was flat at 702.8p and Wizz Air shed 1% to 5,160p.


British Airways today said it would revive its plans to start a shout-haul route at Gatwick if pilots accepted a new contract offer put to them today.


The UK government today also scrapped its traffic light system with the number of countries on the red list cut to around twelve from 54.


Travellers coming from countries not on the red list can enter the UK without a pre-departure test. There will be no change for those arriving from red list countries.

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