Irish low-cost airline Ryanair has cut its annual passenger forecast by 10 million to 50 million, CEO Michael O'Leary told Reuters on Wednesday.

This is a new downward revision compared to the previous forecast from July. The current financial year ends on March 31, 2021.

Ryanair, like the entire aviation industry, has had to deal with the coronavirus pandemic and the travel restrictions related to it this year. In a statement, Michael O'Leary said that the entire winter season of 2020 will essentially be a write-down. He sees an average of five million passengers per month during the period.

Ryanair has had to make several downward revisions to its passenger forecast this year. In May, the company believed it would fly 80 million passengers during the current financial year.

Source: finwire