Ryanair CEO Expects 10% Coronavirus Hit To Bookings
Ryanair has said that it expects its April and May bookings to fall by 10% due to the coronavirus outbreak.
When asked about the prospects for earnings during the three months to June 30, which is the first quarter of Ryanair's financial year, Ryanair CEO Michael O'Leary said that "there will be a meaningful impact."
"At the moment we're expecting a 10% decline in bookings through the months of April and maybe May. We could be down about two million passengers over that period," O'Leary told Reuters on the sidelines of an annual industry conference.
Optimistic About Summer
"But that I think would be about the extent of it," O'Leary added, saying that once temperatures begin to rise in Europe in May and June, "the hysteria about the spread of the COVID virus will have calmed down again."
O'Leary said that his airline has not yet responded with cheaper pricing, but that it would stimulate the market if necessary closer to the summer.