March 2, 2020 / 4:08 PM / in a month

BRIEF-Ryanair To Cancel Up To 25% Of Italian Flights

March 2 (Reuters) - Ryanair Holdings Plc:

* RYANAIR TO CANCEL UP TO 25% OF ITALIAN FLIGHTS

* DOES NOT EXPECT THESE CANCELLATIONS TO HAVE A MATERIAL IMPACT ON CURRENT YEAR (END MAR 2020) GUIDANCE

* REDUCING SHORT HAUL FLIGHT PROGRAM (MAINLY TO & FROM ITALY) BY UP TO 25% FOR A 3 WEEK PERIOD FROM TUES 17(TH) MARCH

* IS FAR TOO EARLY TO SPECULATE WHAT IMPACT COVID-19 OUTBREAK WILL HAVE ON FY21 EARNINGS

* RYANAIR WILL CONTINUE TO MONITOR BOOKINGS CAREFULLY

* EXPECT THAT COVID-19 VIRUS WILL RESULT IN FURTHER EU AIRLINE FAILURES OVER COMING WEEKS.

* OVER PAST WEEK, SEEN SIGNIFICANT DROP IN BOOKINGS OVER THAT LATE MARCH/EARLY APRIL PERIOD, IN RESPONSE TO COVID-19 VIRUS

* WILL MAKE “SENSIBLE CUTS TO OUR SCHEDULES OVER COMINGS WEEKS TO REFLECT WEAKER BOOKINGS”

* ALSO BEEN A SIGNIFICANT STEP UP IN PASSENGER NO-SHOWS ON FLIGHTS, PARTICULARLY FROM AND WITHIN ITALY

* ALSO BEEN A SIGNIFICANT STEP UP IN PASSENGER NO-SHOWS ON FLIGHTS, PARTICULARLY FROM AND WITHIN ITALY Source text for Eikon: Further company coverage:

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