ryanair-doubles-annual-loss-forecast-due-to-omicron

Ryanair doubles annual loss forecast due to Omicron

The Irish company now expects an annual loss of 200 at 450 million euros this year.

The Irish airline Ryanair doubled its loss forecast for the year due to the impact of the covid variant – 19 Omicron , which led to a sharp reduction in bookings for the end of the year holidays. The carrier now expects an annual loss of 250 to 450 million euros against 48 and 100 millions of euros originally planned, according to a press release.

“The Omicron variant of the covid and the recent restrictions on travel across Europe have considerably weakened our reservations for Christmas and New Years Day, ”the company explains. “This sudden slowdown has led Ryanair this week to cut its planned transport capacity by 19%”, she adds .

Between 9 and 9.5 million passengers in December

The ban on travelers n ‘having no essential ground from UK to France and Germany and the suspension of all EU flights to or from Morocco have lowered Ryanair’s December traffic expectations by a range anticipated from 10 to 11 million travelers to between 9 and 9.5 million, details Ryanair.

Ryanair carried in November 10, 2 million passengers, a little less than in previous months, but this figure has multiplied by five in one year. The company forecasts traffic for the year below 100 million passengers. The aviation sector is one of the hardest hit by the coronavirus pandemic with health restrictions on international travel which have undermined traffic.

During its staggered first semester published in early November, Ryanair had announced a net loss, group share of 48 million euros for the half-year against 411 million a year ago. Ryanair suffered the worst financial year in its history in 2020 – 2021 with a loss of order of one billion euros, and announced the elimination of some 3. jobs, or 11% of its workforce.

Its competitor EasyJet had to it reduced its loss during the financial year which ended at the end of September, to 858 million pounds against nearly 1.1 billion a year earlier, according to its results released in late November. Listed in Dublin, Ryanair left the London Stock Exchange on 17 December citing high costs and volumes of weak trade after Brexit.