(Alliance News) -Â Ryanair Holdings PLC has reduced its annual passenger target to 50 million, Chief Executive Michael O'Leary told Reuters in an interview on Wednesday.
Ryanair in July had guided to 60 million passengers in its current financial year, ending in March. In the 2020 financial year, Ryanair carried 149 million passengers.
O'Leary said Ryanair is now guiding for 50 million passengers for the full year to the end of March, though added that "at the moment the way governments are handling it the risk is to the downside".
The CEO told Reuters that fares will also be "aggressively down", and he thinks winter of 2020 "will essentially be a write-off".
Ryanair shares were down 2.4% Wednesday morning at EUR11.34.
By Lucy Heming;Â firstname.lastname@example.org
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