Ryanair faces E200m revenue hit from lost sales after latest cancellations bite

Embattled Ryanair will take a E200m hit to its potential revenue over the coming months because of the wave of cancellations it has been forced to implement. The airline said the first set of 2,000 flight cancellations that came as a shock to passengers last month would cost it E25m, largely in compensation payments to many of the 300,000-plus customers impacted. But a second batch of 18,000 flight cancellations announced last week is likely to see a much greater amount of revenue foregone. Close to 3.4m seats have been withdrawn from sale between now and March. Ryanair flights, on average, fly 97% full, but allowing for lower 90% winter-time loads, the 18,000 cancelled flights would have carried 3m customers. Monthly growth will slow from 9% to 4% between November and next March, the airline said. <br/>