The economic crisis caused by the coronavirus pandemic continues to hit air travel hard, with companies from all over the world forced to introduce extraordinary measures in order to make ends meet for one of the worst years in the history of civil aviation.
This time to announce new "sacrifices" is Ryanair. The world's most famous low-cost airline has announced its intention to further reduce its flight capacity due to the Covid-19 emergency and the decline in air traffic. Flights will therefore be reduced by 40% this winter against 60% last year.
But the reduction of flights is not the only news announced today by Ryanair. The Irish company has made it known that the bases of Cork and Shannon, in Ireland, and that of Toulouse, in France, will close from November to March. The number of aircraft at bases in Belgium, Germany, Spain, Portugal and Vienna will also be significantly reduced.
"Due to heightened flight restrictions imposed by EU governments, air travel to and from large parts of Central Europe, the UK, Ireland, Austria, Belgium and Portugal has been severely curtailed," Ryanair said. “This caused a slight weakening of reservations anticipated in October – he added – which will have material repercussions in November and December”. For the managing director, Michael O'Leary, the primary objective remains that of minimizing the impact of the measures on jobs.
With these measures, Ryanair now expects 38 million passengers for 2021, but the figure could be reduced in the event of new lockdowns. Following the announcement, on the London Stock Exchange, Ryanair's share dropped 3,66%, falling to £11,85. However, the difficult day experienced by all European lists, frightened by the arrival of new closures in the old continent, is also conditioning the performance of the shares.
