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Ryanair doubles annual loss forecast over Omicron

In a statement it said it expects a net loss of between €250 million and €450 million in the 12 months to the end of March
In a statement it said it expects a net loss of between €250 million and €450 million in the 12 months to the end of March

Ryanair has more than doubled its annual loss forecast and cut its January traffic forecast by 33% due to the impact of the Omicron variant of Covid-19.

The airline, which is Europe's largest by passenger numbers, said in a statement that it expects a net loss of between €250 million and €450 million in the 12 months to the end of March.

That compares to a previous forecast of a loss of between €100 million and €200 million.

It cut its December passenger forecast to a range of 9 to 9.5 million, from 10 to 11 million.

It blamed last weekend's ban on British arrivals into France and Germany, and the suspension of all EU flights to and from Morocco.

The airline cut its January traffic forecast to between 6 and 7 million, from 10 million.

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

Ryanair said it now expects to fly just under 100 million passengers in the year to the end of March from an earlier forecast of just over 100 million.

"These figures are hugely sensitive to any further positive or negative Covid news flow," it said.