Ryanair has cut its January schedule by a third and expects to post a significantly deeper full-year net loss in the spring owing to the emergence of the Omicron variant of Covid-19 and the new intra-European travel restrictions imposed to halt its spread.
(Credit: Lucas Davies / Unsplash)
The budget carrier has lowered its full-year profit guidance (year to 31 March 2022) from a net loss in the range of €100-€200 million to a new range of €250-€450 million.
It said the Omicron and new government travel restrictions across Europe had "notably weakened" near-term Christmas and new year bookings, necessitating a 33% reduction in planned January capacity from around 10 million to six to seven million.
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