Ryanair FY21: Q1 Results

Current Developments ✈ RTS July - 40% cap. (90% network); Aug c. 60%; Sept c. 70% ✈ Illegal State Aid = below-cost selling ✈ Europe's cost leader - Right-sizing the cost base ✈ MAX deliveries W. 20 (subject to Q3 RTS in USA) ✈ Post Covid-19 growth opportunities ✈ Brexit risk intensifies ✈ Outlook - FY21 traffic 60m (subject to no 2nd wave Covid-19) RYANAIR MORE CHOICE. LOW FARES. GREAT CARE. 2. 8

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