Ryanair has announced plans to cut flights throughout September and October after a drop in bookings over the past 10 days.
As new quarantine restrictions have come into play, bookings over the past weekend have dropped due to uncertainty around traveling.
The airline will cut the number of flights flying to France, Sweden, and Spain in particular.
“Over the past two weeks as a number of EU countries have raised travel restrictions, forward bookings, especially for business travel into September and October, have been negatively affected, and it makes sense to reduce frequencies so that we tailor our capacity to demand over the next two months,” said a spokesperson.
Airline and travel company stocks plunged on Monday after the government removed France, the Netherlands, and various other countries were removed from the UK government’s travel corridor list.
Shares in Easyjet (LON: EZJ), Ryanair (LON: RYA) and IAG (LON: IAG) were down following the news. Easyjet shares fell over 7% on the news, following the news that the budget airline had finished the sale and leaseback of 23 aircrafts to raise a total of £608m amid the pandemic.
