Ireland's Ryanair doubles annual loss forecast over Omicron

Ryanair on Wednesday more than doubled its forecast annual loss and cut its January traffic forecast by 33% due to the impact of the Omicron variant of COVID-19.

The Irish airline, Europe's largest by passenger numbers, said in a statement that it expects a net loss of between 250 million euros and 450 million euros ($509 million) in the 12 months to the end of March.

That compares to a previous forecast of a loss of between 100 million and 200 million euros. ($1 = 0.8840 euros)