By reducing its flying schedule, the Dublin-based carrier said it will eliminate all risk of further flight cancellations, because slower growth will create "lots of spare aircraft and crews" across Ryanair's 86 bases this winter.
Ryanair has also offered the vouchers to the 315,000 customers whose flights were previously cancelled over a six week period in September and October. The carrier is still forecasting a profit after tax of 1.4 billion euros to 1.45 billion euros in the year ending March 31. It is for each passenger and each flight that was cancelled, so if a customer had both parts of their return journey cancelled they would be sent an £80 voucher.
"While over 99% of our 129 million customers will not have been affected by any cancellations or disruptions, we deeply regret any doubt we caused existing customers last week about Ryanair's reliability, or the risk of further cancellations".
34 routes are affected, including London Stansted to Edinburgh and Glasgow, Gatwick to Belfast, and Newcastle to Faro.
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Dozens of routes will be caught up in this latest round of cancellations, with passengers once again paying the price for the airline's ongoing issue surrounding pilot availability.
The news comes as part of a broader strategy Ryanair announced today for dealing with the flight cancellations fiasco.
It said that affected customers have received an email today giving them between five weeks to five months notice of these schedule changes, offering them alternative flights or full refunds of their airfare.
Travel chaos looks set to continue as Ryanair announce it will continue to cancel flights until March 2018.
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The airline, which has 4,200 pilots, hit back against the likes of Norwegian Air Shuttle ASA over what it said were "false claims" about losing crew to rivals, saying just 100 captains and 160 first officers have left, mainly due to retirement and moves to long-haul operators.
Analysts welcomed Ryanair's decision not to pursue its interest in Alitalia.
The airline said it expects the cost of these vouchers for affected customers will be less than €25m.
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