US and European airlines slash flights as passenger demand craters

A number of US and European airlines announced major reductions in schedule as passengers demand remains weak in the face of COVID 19. In the US, United said Q3 capacity would be 70% lower than the same period last year. While in Europe LCC Ryanair, Europe’s largest low-cost airline, cut its annual passenger target to 50 million, a reduction of 10 million, as Europe’s biggest carrier expects the winter travel market to be a “write-off”. “We are guiding now for about 50 million passengers for the full year to the end of March,” said Michael O’Leary, the chief executive, in