London - Irish budget airline Ryanair announced Monday that it had made a net loss of more than 100 million euros in the third quarter of its current financial year.

The airline said it had swung into the red to the tune of 101.5 million euros (130.4 million dollars) in the three months up to the end of December.

Ryanair, Europe's largest low-cost airline, said it hoped to make profit for the year as a whole, ranging between 50 and 80 million euros.

The airline was battered by last year's oil price rise, which saw its fuel costs soar by 71 per cent in the final three months of 2008.

However, oil prices have since collapsed amid the global economic downturn. (dpa)