viewRyanair Holdings plc

Ryanair cuts 20% of flights after coronavirus spikes in Europe

Most of the reductions would be frequency reductions rather than route closures

Ryanair Holdings plc -

Ryanair PLC (LON:RYA) has cut its capacity for September and October by 20% after seeing a reduction in bookings over the last ten days.

Quarantine restrictions have been imposed on Spain, France and other countries in Europe due to spikes in COVID-19 case rates.

Ryanair said most of the reductions would be frequency reductions rather than route closures and be focused on those countries such as Spain, France and Sweden and Ireland.

Ireland’s Green List is uniquely restrictive said the airline.

Ryanair added in a statement: “Over the past 2 weeks as a number of EU countries have raised travel restrictions, forward bookings especially for business travel into Sept & Oct have been negatively affected, and it makes sense to reduce frequencies so that we tailor our capacity to demand over the next 2 months.”

Elsewhere, budget airline Jet2 confirmed plans to cut more than 100 pilot jobs.

A Jet2 spokesperson said: "We are greatly distressed and deeply regret these redundancies that are entirely caused by the current situation.’"

EasyJet, meanwhile, has confirmed it will shut its bases at Stansted, Southend and Newcastle.

The closures will put 670 jobs at risk, said the airline.

All flights in and out of Southend will end while there will be some in-bound flights into Stansted and Newcastle. 

Quick facts: Ryanair Holdings plc

Price: 12.165 EUR

Market: LSE
Market Cap: €13.69 billion

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