20% of Ryanair flight capacy will be reduce during September and October after a reimposition of some travel restrictions led to a decline in forward bookings over the last 10 days, the Irish airline said on Monday.
Ryanair, last month also cut its passenger capacity to 60 million for the financial year to March 2021, from the 80 million it had forecast in May, said a recent upsurge of COVID-19 cases in some European countries had perticularly impacted business bookings.
Ryanair shares, which had recovered in recent session to their highest since early June, fell 4.4% to 11.22 euros by 1220 GMT.
The airline is of view the finance of France,Spain,, Ireland and Sweden will be affected more by the heavily cut and mostly involve frequecy reductions rather than route closers. It had risen the flights to 60% oof its normal schedule this month after resuming service in July.
According to the Europe’s biggest budget airline the last month expected to run around 70% of last year’s schedule between October and March.
Rise in the travel restrictions have hit air traffic specially of Spain and France in recent weeks, while Ireland only allows unencumbered travel to 10 European countries, a policy Ryanair criticised again as “uniquely restricted” on Monday.
