Home / Companies / Company Results /  Ryanair widens FY 2022 net loss guidance, cuts December traffic forecasts

Ryanair Holdings PLC said Wednesday that it has widened its expected net loss for fiscal 2022 and cut its December passenger forecasts, due to the Omicron coronavirus variant and government restrictions weakening bookings.

The low-cost carrier said it has lowered its net loss guidance for the year ending March 31 to be in the range of 250 million euros to 450 million euros ($282.2 million-$507.9 million), from a previous range of net losses of EUR100 million to EUR200 million. It noted that guidance is sensitive to coronavirus news, whether positive or negative.

The company said recent government travel restrictions--particularly last weekend’s ban on U.K. visitors to France and Germany, and the suspension of all European Union flights to and from Morocco--have led it to lower its expected December traffic to a range of 9 million to 9.5 million, from 10 million to 11 million.

The company also cut its January capacity by 33%, reducing its expected January passenger numbers to a range of 6 million to 7 million from around 10 million.

Ryanair said no schedule cutbacks have been decided yet for February or March, a stance that will be revisited in January as more information becomes available.

This story has been published from a wire agency feed without modifications to the text

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