Ryanair’s volcanic level of flight cancellations continues due to ash cloud

Ryanair, the World’s most hated airline, have cancelled all flights between the UK and Ireland until 1300 GMT on Friday to allow the airline to clear any backlog of stranded passengers in mainland Europe.

Ryanair have also extended the cancellation of all Northern Europe flights from Wednesday afternoon to Thursday afternoon.

The cancellations are hitting Ryanair where it hurts. Ryanair reported today that it expects the disruption to flights caused by volcanic ash clouds over Europe will be about EUR42 million in fiscal 2011, as long as it can start flying normally by Friday.

The disliked carrier also said it expects net profit for the year ending March 31, 2011, to be impacted by about EUR6 million per day over seven days of disruption. The airline said normal flight operations will resume from about 1300 GMT Friday, according to its “current best estimate.”