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