The airline has slashed its capacity for January by a third and warned that annual losses will be more than double the level of those previously forecast.
"This sudden downturn has also caused Ryanair this week to cut its planned January schedule capacity by 33%."
It said it now expected December traffic of 9-9.5 million, down from a prior forecast of 10-11 million and January numbers at 6-7 million, down from 10 million.
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