Travel restrictions have significantly reduced the Airline’s Christmas and New Year bookings.
Irish the low – cost airline Ryanair estimates that its annual loss will more than double due to travel restrictions imposed to prevent the spread of the coronary virus.
Ryanair says in its release that travel restrictions have dropped significantly on Christmas and New Year bookings.
Ryanair now estimates that it will make a loss of € 250-450 million in its financial year ending in March. The previous loss estimate was EUR 100–200 million.
It was only last month that the airline said it had managed to raise its quarterly earnings to positive for the first time during the pandemic.
Ryanair also said it would reduce its air traffic by a third in January. The company plans to find out whether cuts are needed for the planned traffic for February-March as well.
The company estimates it will carry just under a hundred million passengers during its fiscal year, compared to previously forecasting just over a hundred million passengers.
According to Ryanair, the figures are very sensitive to positive or negative corona news.
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