Despite the Omicron version cutting into the normally busy end-of-year travel season, Ryanair reported considerably lower losses in the third quarter of 2021, the low-cost airline announced Monday.
The company’s net losses were 96 million euros ($107 million), less than a third of what they were in the same period in 2020.
Chief executive Michael O’Leary said the reporting period started well, with strong bookings as there was “less confusion” about the British government’s “absurd ‘traffic light system'” to rank Covid risks from countries.
The airline, which is located in neighboring Ireland and travels throughout Europe, sees Britain as a vital market.
Bookings improved in November, but by the end of the quarter, “the abrupt emergence of the Omicron variety” and “the media panic it caused” forced European governments to reimpose travel restrictions, according to O’Leary.
