Budget airline Ryanair has cut its full-year forecast after the coronavirus and recent travel restrictions in Europe led to a significant decline in bookings over the Christmas and New Year holidays. This sudden decline has also led the company this week to cut planned capacity by 33 percent in January.

The company now forecasts that this year's passenger volume will likely amount to under 100 million, which is a reduction from earlier when the company predicted over 100 million.

The year's net loss is likely to be £250-450 million, compared with a previous estimate of a loss of £100-200 million.

The company will release figures for the third quarter of the fiscal year on January 31.

Source: TT