Ryanair is cutting some winter flights and temporaily removing aircraft from bases, as labor strikes led the company to slash its full-year profit forecast by 12%. A reduction in winter flights is also expected.
Ryanair said fares in its second quarter to September 30 had fallen by about 3 percent, compared with a 1 percent dip forecast previously, and said it now expects fares in the second half to fall by 2 percent.
The airline said that forward bookings, especially for the October school mid-term break and Christmas, were lower due to passenger's fears of further strikes.
Ryanair chief executive Michael O'Leary said: "While we successfully managed five strikes by 25% of our Irish pilots this summer, two recent coordinated strikes by cabin crew and pilots across five new European Union countries has affected passenger numbers (through flight cancellations)".
"While we regret these disruptions, we have on both strike days operated over 90% of our schedule".
The airline has lowered its fares in the third quarter, particularly for the October school mid-term holiday and Christmas.
Analysts at Bernstein said the cut was the latest indication that the "low-cost wins, legacy loses" story may be coming to an end after budget rival easyJet (EZJ.L) last Friday gave a cautious outlook for next year despite benefiting from Ryanair's woes.
The airline said its slower traffic growth in the second half of its financial year will cut it full year traffic to 138 million.
The airline added: "Ryanair can not rule out further disruptions in Q3, which may require full year guidance to be lowered further and may necessitate further trimming of loss-making winter capacity".
Its guidance does not include the approximately 150 million euro (£133.5 million) in exceptional losses attributed to Laudamotion, the Austrian carrier which Ryanair acquired earlier this year.
From November 5, the airline said its four aircraft Eindhoven base will close, but most routes to and from Eindhoven will continue on overseas based aircraft.
"All affected customers have been contacted by email/SMS this morning and will be re-accommodated on other flights or refunded as they so wish", Ryanair said.
It said it would seek to minimise job losses by offering pilots vacancies elsewhere and consider unpaid leave and other options for cabin crew.