Ryanair is to cut its January schedule by a third as the low-cost carrier last night revealed the major financial impact of travel restrictions to deal with the Omicron variant.
With Christmas demand severely weakened by last weekend's ban on UK arrivals into France and Germany, Ryanair more than doubled its annual loss forecast to as much as 450 million euros (£382 million). It has also been hit by the suspension of EU flights to Morocco.
Despite the new guidance, re-opening stocks and airlines including easyJet rallied sharply in London today after encouraging data on the severity of the Omicron variant boosted hopes the world can avoid more lockdowns.
