Companies cautious on impact of Omicron coronavirus variant

Ryanair Chief Executive Michael O'Leary saw no reason to cancel flights although he was worried about some countries potentially shutting air travel. Lufthansa, Germany's flagship airline, said its flights were still well booked.

Pandemic-weary corporations struggled to assess the impact of the new Omicron variant of the coronavirus on Monday, with industries from airlines to autos awaiting more details to help determine how it might affect their operations and profits.

The World Health Organization warned on Monday the Omicron variant carries a very high global risk of infection surges. Spooked investors wiped roughly $2 trillion off global stocks on Friday, but markets were calmer on Monday.