Ryanair CEO warns EU winter air traffic may be a quarter of normal levels

Air traffic in Europe this winter could be as low as 25% of normal levels, depending on how the COVID-19 pandemic develops, Ryanair Chief Executive Michael O'Leary said on Monday.

O'Leary said that a forecast by Eurocontrol, which manages Europe's air traffic network, of a 50% fall in winter capacity from normal levels was too optimistic.

"I think the reductions will be greater. Probably a 60, 70, maybe 75% reduction," he said in a pre-recorded video presentation following the release of financial results for the six months to Sept. 30.