Ryanair cuts Sept-Oct capacity by 20% on weak bookings

Aran News Saudi Arabia18 Aug, 2020News

Ryanair, which last month cut its passenger target 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 particularly impacted business bookings. Ryanair shares, which had rallied in recent sessions to their highest since early June, fell 4.4 percent to �11.22. The airline said cuts will be heavily focused on France, Spain Ireland and Sweden, and would mostly involve frequency reductions rather than route closures. It had increased flights to 60 percent of its normal schedule this month after resuming services in July.