Ryanair on Monday notified passengers that it was reducing its short haul flight program, mainly to and from Italy, by up to a quarter over a three-week period. 

In a statement, the airline said it had seen a significant drop in bookings over the late March and early April period as a result of the Coronavirus. 

The cancellations cover the period start March 17 to April 8. 

Ryanair said there had been an increase in passenger no-shows on flights, particularly from and within Italy. 

The airline said it was too early to say what impact the Coronavirus impact might have on its earnings. 

Ryanair said it would continue to monitor bookings carefully and will adapt its schedules in response to the developing situation. 

The airline said it was working closely with relevant authorities and is following all guidelines provided by WHO and EASA to ensure the health and wellbeing of passengers. 

Ryanair said it remained one of the strongest airlines in the industry, warning the virus outbreak will result in further EU airline failures over the coming weeks. 

The airline's CEO Michael O'Leary said the focus was on minimising the risk to employees and clients. 

"While we are heavily booked over the next two weeks, there has been a notable drop in forward bookings towards the end of March, into early April.

"It makes sense to selectively prune our schedule to and from those airports where travel has been most affected by the Covid-19 outbreak", O'Leary said. 

He said all affected customers will be advised of any schedule changes at least 14 days in advance.