Ryanair said it will have to continue to offer travelers discounted prices in the coming months amid an “extremely uncertain outlook” for the year.
The airline company reported losses of €96m (£80m) in the last three months of 2021, according to Yahoo! Finance.
He missed his targets in December after the spread of Omicron forced governments to reimpose restrictions on international travel.
In a report the airline company says: “The sudden emergence of Omicron variant and the media hysteria it generated in December, forced many European governments to reimpose travel restrictions in the run-up to Christmas, which significantly weakened Christmas and New Year bookings and fares.”
Ryanair only managed to fly 9.5 million passengers with them in December, which was below their target of 11 million.
Chief executive Michael O’Leary said the outlook for 2022 was uncertain despite a significant rebound in bookings since concerns over the Omicron variant began to fade.
He said: “While recent bookings have improved, following the easing of travel restrictions, the booking curve remains very late and close, so Q4 traffic requires significant price stimulation at lows. lower price.”
Ryanair reaffirmed its forecast to carry just under 100 million passengers in this fiscal year, which ends on March 31. He also reiterated his loss forecast for the full year between 250 and 450 million euros.