RYA Ryanair Holdings Plc

   By Adria Calatayud 
 

Ryanair Holdings PLC said Friday it would cut its October capacity by a further 20%, blaming EU government travel restrictions and policies in response to the coronavirus pandemic.

The Irish airline said its latest capacity cut is in addition to a 20% reduction announced in mid-August. As a result, the company now expects capacity for next month to be 40% of its October 2019 levels, down from its previous expectation of 50%.

Ryanair said it expects to maintain a load factor of more than 70% at this reduced schedule.

"While it is too early yet to make final decisions on our winter schedule [from November to March], if current trends and EU governments' mismanagement of the return of air travel and normal economic activity continue, then similar capacity cuts may be required across the winter period," a Ryanair spokesperson said.

Ryanair shares in London at 0839 GMT traded 3.5% lower at 12.13 euros ($14.37).

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

September 18, 2020 05:01 ET (09:01 GMT)

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