Budget carriers like Ryanair are suffering from the Covid-19 crisis, but a shrinking industry also brings them some advantages
No passenger carrier on the planet can escape the painful shrinkage that Covid-19 is imposing on the aviation industry. For scrappy low-cost carriers, though, there is also something to like in a leaner market.
European budget leader Ryanair said Monday that it will lose €200 million during its first fiscal quarter, which spans April to June. Its shares still rose 9.5% on the day. At a time when more than 70% of global aircraft are grounded, this counts as positive guidance.
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