BRITS will be rushing to Spain this summer as the vaccination rollout boosts confidence in international travel again, according to Ryanair boss Michael O’Leary.
The budget airline tycoon believes that as the number of people vaccinated against COVID-19 rises, Brits will be eager to return to popular European destinations like Spain, Portugal, Italy and Greece.
Speaking on BBC’s Today programme O’Leary said Ryanair expects a ‘strong recovery of beach holidays and family holidays going to Europe this summer’.
He explained: ”We expect to see a very strong return of British families travelling to the beaches of Spain, Portugal, Italy and Greece in relative safety this summer thanks to the vaccine programme.”
“I think [there will be a] strong return to travel and normality for the travel sector by the end of 2021.”
O’Leary’s comments come as his company warned shareholders that it will lose almost €1 billion in the current financial year.
Updating their shareholders, the low-cost airline said the virus ‘continues to wreak havoc across the industry’ and warned that this year would be ‘the most challenging’ in Ryanair’s 35 year history.
Passenger numbers fell 78 per cent to 8.1 million, down from 35.9 million, in the three months to the end of December. Revenue over the period fell 82 per cent to €340 million, down from €1.91 billion.
Ryanair said it expected to post a loss of between €850 million and €950 million in its current financial year, which ends on March 31.