Irish no-frills airline Ryanair on Thursday slashed its annual traffic forecast after axing more flights due to the coronavirus fallout.

It expects to carry between 26 and 30 million passengers in the company’s financial to March, Ryanair said in a statement. That compared with a prior forecast of less than 35 million.

The Dublin-based carrier also cut its flight schedules during the first quarter of 2021 amid fresh COVID-19 lockdowns and travel restrictions.

The airline said it still expects to make a net loss in the current fiscal year after the deadly pandemic ravaged the aviation industry.

“Ryanair will significantly cut its flight schedules from Thursday, January 21, which will result in few, if any, flights being operated to/from Ireland or the UK” until restrictions are lifted, it said.

The Dublin-based carrier also cut its flight schedules during the first quarter of 2021 amid fresh COVID-19 lockdowns and travel restrictions

The carrier meanwhile urged the Irish and UK governments to accelerate the pace of their COVID-19 vaccine programmes.