Investing.com -- Ryanair cancelled 260 flights on Tuesday after a major air traffic failure shut down departures across Britain, resulting in immediate losses of £2.5 million to £3 million ($3.38 million to $4.06 million), CEO Michael O'Leary said on Wednesday.

The cancellations affected approximately 48,000 passengers and included costs for passenger rights, care, and compensation.

O'Leary told reporters the total losses could reach five to six million dollars. The airline expected to cancel 30 additional flights on Wednesday due to crews being in incorrect locations and working irregular hours.

The CEO said NATS, Britain's air traffic control service, informed the airline that the issue was the same as a 2023 incident, caused by a rogue flight plan that contained a duplicate airport entry, which caused the system to collapse.