Ryanair blames Omicron variant as it doubles its annual loss forecast

Ryanair blames Omicron variant as it doubles its annual loss forecast | Secret Flying

Omicron forces Ryanair to more than doubles its annual loss forecast.


Ryanair has warned its losses this year could be more than double what it feared,Β blaming travel restrictions in France and Germany following the emergence of the Omicron variant.


On Wednesday, the low-cost-carrierΒ cut its January traffic estimate by 33%. It alsoΒ cut its December passenger forecast rangeΒ from 10-11 million to 9-9.5 million.


The airline issued guidance forecasting losses for the financial year ending in March to rise from between €100m and €200m to a range of €250m-€450m.


Ryanair said it would wait until next month to revise its February and March schedules, “as more scientific information becomes available on the Omicron variant, its impact on hospitalisations, European population and/or travel restrictions”.


In a statement, the budget airline said that the sudden emergence of the variant has “notably weakened close-in Christmas and New Year bookings”.


Ryanair’s Chief Executive Officer Michael O’Leary made headlines earlier in the week when he shared his thoughts that only vaccinated passengers should be allowed to fly.


“If you’re not vaccinated, you shouldn’t be allowed in the hospital, you shouldn’t be allowed to fly, you shouldn’t be allowed on the London Underground, and you shouldn’t be allowed in the local supermarket or your pharmacy either,” he said.