Ryanair’s travel optimism looks overcooked but it will still win out in the end

The low-cost carrier suffered a record loss and its borrowings have surged, but the company is in a better shape to capitalise on recovery than many of its rivals - even if the virus throws a wrench into its projections, writes James Moore

Grounded by the pandemic but Ryanair says bookings are recovering (PA)

“We believe that we can look forward to a strong recovery in air travel, jobs and tourism in H2 of the current fiscal year,” declared Ryanair.

The markets are believers. The airline’s shares have nearly doubled in value since the low point they recorded in the summer of 2020. Since then they’ve been climbing the mountain at the speed of a hungry snow leopard in pursuit of a juicy item of prey.

Investors have bought into the company’s optimistic belief that most European populations will have been vaccinated by September, ushering in a rapid recovery for the bombed-out travel sector.