<SEC-DOCUMENT>0001654954-20-004754.txt : 20200501
<SEC-HEADER>0001654954-20-004754.hdr.sgml : 20200501
<ACCEPTANCE-DATETIME>20200501072308
ACCESSION NUMBER:		0001654954-20-004754
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20200501
FILED AS OF DATE:		20200501
DATE AS OF CHANGE:		20200501

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RYANAIR HOLDINGS PLC
		CENTRAL INDEX KEY:			0001038683
		STANDARD INDUSTRIAL CLASSIFICATION:	AIR TRANSPORTATION, SCHEDULED [4512]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-29304
		FILM NUMBER:		20838341

	BUSINESS ADDRESS:	
		STREET 1:		C/O RYANAIR LTD CORPORATE HEAD OFFICE
		STREET 2:		DUBLIN AIRPORT
		CITY:			COUNTY DUBLIN IRELAN
		STATE:			L2
		BUSINESS PHONE:		3538444440

	MAIL ADDRESS:	
		STREET 1:		CT CORPORATION SYSTEM
		STREET 2:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RYANAIR HOLDINGS LTD
		DATE OF NAME CHANGE:	19970506
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>a5786l.htm
<DESCRIPTION>RYANAIR HOLDINGS PLC - COVID-19 MARKET UPDATE
<TEXT>
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SECURITIES AND EXCHANGE COMMISSION</font></div>
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Washington, D.C. 20549</font></div>
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FORM 6-K</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Report of Foreign Private Issuer</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Pursuant to Rule 13a-16 or 15d-16<font style="font-family: Times New Roman">&#x2028;</font></font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
of the Securities Exchange Act of 1934</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">For the
month of&#xA0;<font style="font-weight: bold">May
2020</font><font style="font-family: Times New Roman">&#x2028;</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
RYANAIR HOLDINGS PLC</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(Translation
of registrant's name into English)<font style="font-family: Times New Roman">&#x2028;</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
c/o Ryanair Ltd Corporate Head Office</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
<font style="font-family: Times New Roman">&#x2028;</font>Dublin
Airport<font style="font-family: Times New Roman">&#x2028;</font></font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
County Dublin Ireland</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(Address
of principal executive offices)<font style="font-family: Times New Roman">&#x2028;</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#x2028;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Indicate
by check mark whether the registrant files or will file
annual</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">reports
under cover Form 20-F or Form 40-F.<font style="font-family: Times New Roman">&#x2028;</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#x2028;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Form
20-F..X.. Form 40-F&#xA0; <font style="font-family: Times New Roman">&#x2028;</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#x2028;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Indicate
by check mark whether the registrant by furnishing the
information</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">contained
in this Form is also thereby furnishing the information to
the</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Commission
pursuant to Rule 12g3-2(b) under the Securities
Exchange</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Act of
1934.<font style="font-family: Times New Roman">&#x2028;</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Yes
&#xA0; No ..X..<font style="font-family: Times New Roman">&#x2028;</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">If
"Yes" is marked, indicate below the file number assigned to the
registrant</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">in
connection with Rule 12g3-2(b): 82- ________<font style="font-family: Times New Roman">&#x2028;</font></font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 16px">
&#xA0;</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 16px">
RYANAIR HOLDINGS PLC - COVID-19 MARKET UPDATE</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Ryanair Holdings Plc today Fri. 1 May updated the market on its
traffic projections for Q1, its plans for a likely return to
services in Q2, the expected significant decline in current year
traffic, and the impact on fares in Europe where the level playing
field will be distorted by competing against legacy airlines who
are receiving over &#x20AC;30 billion of State Aid, in clear breach
of both EU competition and State Aid rules. This unlawful and
discriminatory State Aid will be challenged by Ryanair in the
European Courts.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="text-decoration: underline; color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 13px">
Q1 and full year traffic outlook</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Due to Continent wide EU Government flight restrictions, Ryanair
expects to operate less than 1% of its scheduled flying program in
Apr, May &amp; June 2020. Q1 traffic of less than 150,000
passengers will be 99.5% behind the Q1 budget of 42.4m passengers.
While some return to flight services is expected in the second
(July-Sept) quarter, Ryanair expects to carry no more than 50% of
its original traffic target of 44.6m in Q2. For the full year ended
March 2021, Ryanair now expects to carry less than 100m passengers,
more than 35% below its original 154m target.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="text-decoration: underline; color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 13px">
State Aid Distorts Competitive Landscape</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
When scheduled flights return in Europe, sometime in July, Ryanair
believes it will take some time for passenger volumes to return.
Consumer confidence will be impacted by public health restrictions,
such as temperature checks at airports and face coverings for
passengers and staff on board aircraft. Ryanair expects traffic on
reduced flight schedules will be stimulated by significant price
discounting, and below cost selling from flag carriers with huge
State Aid war chests (or nationalisation in the case of Alitalia).
These lower fares will require aggressive airport price incentives
to encourage passengers to travel, and Ryanair continues to call on
EU Govts to cut passenger taxes, airport taxes, and departure taxes
on an industry wide basis as a better alternative to selective
State Aid "doping" for flag carriers.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<table cellpadding="0" cellspacing="0" style="text-align: center; width: 50%; font-family: Times New Roman; font-size: 13px; margin: 0px auto;">
<tr>
<td colspan="4" style="vertical-align: bottom; border-right: 1pt solid rgb(0, 0, 0); border-top: 1pt solid rgb(0, 0, 0); width: 71%; border-left: 1px solid rgb(0, 0, 0);">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font>
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font>
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font>
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td colspan="4" style="vertical-align: middle; width: 71%; border-left: 1pt solid rgb(0, 0, 0); border-right: 1pt solid rgb(0, 0, 0);">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 13px">
<font style="text-decoration: underline">Examples of State Aid
Doping - to date</font></font></div>
</td>
</tr><tr>
<td colspan="4" style="vertical-align: middle; border-right: 1pt solid rgb(0, 0, 0); width: 71%; border-left: 1px solid rgb(0, 0, 0);">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font>
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font>
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font>
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td colspan="2" style="vertical-align: middle; width: 71%; border-left: 1pt solid rgb(0, 0, 0);">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Lufthansa Group</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
</td>
<td colspan="2" style="vertical-align: middle; width: 0%; border-right: 1pt solid rgb(0, 0, 0);">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#x20AC;12.4 billion plus</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
</td>
</tr><tr>
<td colspan="2" style="vertical-align: middle; width: 71%; border-left: 1pt solid rgb(0, 0, 0);">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
AF-KLM Group</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
</td>
<td colspan="2" style="vertical-align: middle; width: 0%; border-right: 1pt solid rgb(0, 0, 0);">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#x20AC;10.1 billion plus</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
</td>
</tr><tr>
<td colspan="2" style="vertical-align: middle; width: 71%; border-left: 1pt solid rgb(0, 0, 0);">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
TUI Group</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
</td>
<td colspan="2" style="vertical-align: middle; width: 0%; border-right: 1pt solid rgb(0, 0, 0);">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#x20AC;&#xA0; 1.8 billion plus</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
</td>
</tr><tr>
<td colspan="2" style="vertical-align: middle; width: 71%; border-left: 1pt solid rgb(0, 0, 0);">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Alitalia</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
</td>
<td colspan="2" style="vertical-align: middle; width: 0%; border-right: 1pt solid rgb(0, 0, 0);">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#x20AC;&#xA0; 1.7 billion plus</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
</td>
</tr><tr>
<td colspan="2" style="vertical-align: middle; width: 71%; border-left: 1pt solid rgb(0, 0, 0);">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
SAS</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
</td>
<td colspan="2" style="vertical-align: middle; width: 0%; border-right: 1pt solid rgb(0, 0, 0);">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#x20AC;&#xA0; 0.8 billion plus</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
</td>
</tr><tr>
<td colspan="2" style="vertical-align: middle; width: 71%; border-left: 1pt solid rgb(0, 0, 0);">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Finnair</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
</td>
<td colspan="2" style="vertical-align: middle; width: 0%; border-right: 1pt solid rgb(0, 0, 0);">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#x20AC;&#xA0; 0.7 billion plus</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
</td>
</tr><tr>
<td colspan="2" style="vertical-align: middle; width: 71%; border-left: 1pt solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Norwegian</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
</td>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#x20AC;&#xA0; 0.3 billion plus</font></div>
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<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
</td>
</tr></table>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
When Ryanair returns to meaningful flying from July, the
competitive landscape in Europe will be distorted by unprecedented
volumes of State Aid from some EU Governments to their "national"
airlines. Currently this amounts to over &#x20AC;30 billion - in
addition to payroll supports - mainly to the Lufthansa Group, Air
France-KLM, Alitalia, SAS, and Norwegian. All this State Aid is in
breach of EU rules, and will distort Europe's level playing field
in airline competition for many years. Lufthansa, Air France-KLM
and Alitalia can now fund many years of below cost selling, whereas
Ryanair and other well run airlines will not request (and would not
receive) such State Aid. Ryanair will challenge these unlawful
State Aid bailouts in the EU Courts to protect fair competition in
Europe's aviation market, which has done so much to lower fares for
consumers over the last 20 years.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Ryanair has repeatedly called for any State Aid to be transparent
and non-discriminatory, such as payroll support schemes. This
could, for example in Germany, have involved cutting departure
taxes or reducing airport taxes in France, which would have
benefited all airlines and passengers equally and not just favoured
the local flag carrier. In France, the State is refunding aviation
taxes but only to "French" airlines where all other EU airlines
flying in France (such as Ryanair, EasyJet &amp; BA) must still pay
these taxes. This bailout discrimination is clearly in breach of
State Aid and competition rules.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="text-decoration: underline; color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 13px">
Fleet Review</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Ryanair is now reviewing its growth plans, and aircraft orders. We
are in active negotiations with both Boeing, and Laudamotion's A320
lessors to cut the number of planned aircraft deliveries over the
next 24 months, which could reduce our capex commitments, to more
accurately reflect a slower and more distorted EU air travel market
in a post Covid-19 world.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="text-decoration: underline; color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 13px">
3,000 Job Cuts and Pay Cuts - Consultations</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
As a direct result of the unprecedented Covid-19 crisis, the
grounding of all flights from mid-March until at least July, and
the distorted State Aid landscape in Europe, Ryanair now expects
the recovery of passenger demand and pricing (to 2019 levels) will
take at least 2 years, until summer 2022 at the earliest. The
Ryanair Airlines will shortly notify their trade unions about its
restructuring and job loss program, which will commence from July
2020. These plans will be subject to consultation but will affect
all Ryanair Airlines, and may result in the loss of up to 3,000
mainly pilot and cabin crew jobs, unpaid leave, and pay cuts of up
to 20%, and the closure of a number of aircraft bases across Europe
until traffic recovers. Job cuts and pay cuts will also be extended
to Head Office and Back Office teams. Group CEO Michael O'Leary,
whose pay was cut by 50% for April and May, has now agreed to
extend this 50% pay cut for the remainder of the financial year to
March 2021. &#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="text-decoration: underline; color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 13px">
Outlook</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
As announced on 3 April, given the uncertain duration of the
Covid-19 crisis, and a slower return to "normal" flight services,
Ryanair cannot provide any guidance for FY21 (year ended March
2021). The Group expects to report a net loss of over &#x20AC;100m
in Q1, with further losses in Q2 (peak summer) due to the
substantial decline in traffic arising from Covid-19 fleet
groundings. Ryanair expects that its return to scheduled services
will be rendered more difficult by competing with flag carrier
airlines, who will be financing below cost selling with the benefit
of over &#x20AC;30 billion in unlawful State Aid, in breach of both
EU State Aid and competition rules.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Ryanair entered this unprecedented Covid-19 crisis with almost
&#x20AC;4bn in cash, and we continue to actively manage these cash
resources to ensure that we can survive this Covid-19 pandemic, and
more importantly the return to lower fare flight schedules as soon
as possible, when our customers can look forward to more low air
fares as we are forced to compete with flag carrier airlines who
have received &#x20AC;30 billion in State Aid "doping" to allow them
to sustain below cost selling for months after this Covid-19 crisis
has passed, as it certainly will over the coming
months.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
ENDS</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
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<font style="font-style: italic; color: #000000; font-family: Times New Roman; font-size: 13px">
This announcement contains inside information</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 16px; text-indent: 0px">
<font style="color: rgb(0, 0, 0); font-family: Times New Roman; font-size: 13px; font-weight: bold;">For
further information</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 16px; text-indent: 0px">
<font style="font-weight: bold"><font style="font-family: Times New Roman; font-size: 13px"><font style="color: rgb(0, 0, 0); font-weight: bold;">please
contact:</font></font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font>
<font>Shane O'Toole</font><font style="font-weight: bold">&#xA0;
&#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0;&#xA0;</font>&#xA0;&#xA0;
<font>Piaras Kelly</font><font style="font-weight: bold">&#xA0;<font style="font-weight: bold">&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br>
</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 16px; text-indent: 0px">
&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0;&#xA0;&#xA0;&#xA0; Ryanair
DAC&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
Edelman Ireland</div>
<div style="text-align: left; margin-left: 0px; margin-right: 16px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;"><font style="color: #000000">&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0; &#xA0; Tel:
+353-1-9451212&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
Tel:&#xA0;+353-1-6789333</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 16px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font>
<font style="text-decoration: underline; color: #0000FF">RyanairIR@ryanair.com</font><font style="color: #000000">&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font>
<font style="text-decoration: underline; color: #0000FF">ryanair@edelman.com</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 16px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Click on, or paste the following link into your web browser, to
view the associated PDF document.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<font style="text-decoration: underline; color: #0000FF; font-family: Times New Roman; font-size: 13px">
http://www.rns-pdf.londonstockexchange.com/rns/5721L_1-2020-4-30.pdf</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
SIGNATURES</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Pursuant
to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf
by the undersigned, hereunto duly authorized.<font style="font-family: Times New Roman">&#x2028;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">RYANAIR
HOLDINGS PLC</font></div>
</td>
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</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Date:&#xA0;<font style="font-weight: bold">01
May, 2020</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">By:___/s/
Juliusz Komorek____</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 49%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<td style="vertical-align: top; width: 51%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Juliusz
Komorek</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 49%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 51%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Company
Secretary</font></div>
</td>
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