Ryanair (Image: GETTY)

Ryanair, the budget airline, has abruptly shut down its loyalty scheme for new customers, admitting that it was operating at a loss. The carrier had only launched its £79 per year Prime subscription in March, which offered perks such as free reserved seats, complimentary travel insurance and access to 12 annual member-exclusive seat sales.

Ryanair had claimed that "Prime" members who took a dozen flights per year could save up to £420, more than five times the cost of the subscription. The scheme was initially limited to 250,000 members on a first-come, first-served basis.

However, the Irish airline has now revealed that the programme will be discontinued after just 55,000 people signed up. Ryanair confirmed that all existing members will continue to receive ex

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