Ryanair boss Michael O'Leary says he is seeing the start of a strong rebound for travel as the easing of lockdown releases pent-up demand.Europe's biggest budget airline revealed the scale of the coronavirus collapse in travel - an €815m (£702m) loss and traffic down 81% in the year to March on the previous 12 months.
But Mr O'Leary said there were signs the "recovery has already begun".
Bookings are up from 500,000 a week in early April to 1.5 million a week now.
And he predicted that after "most European populations are vaccinated by September", the airline should see a particularly strong recovery in October to March, the second half of its financial year.
Ryanair's annual €815m loss was slightly better than an €834m loss forecast by many analysts.