Airline company EasyJet has lost more than £1 billion in profits this year and expects to lose more due to the new Omicron variant. 

The budget-friendly carrier said that there are signs that current demand is softening. 

Although they added it is "too soon to say" what impact the new strain of Covid-19 will have on the industry. 

The news comes after new restrictions start today (November 30) in an attempt to control the spread of the new variant.

Glasgow Times: People queue to board an EasyJet plane. (PA)People queue to board an EasyJet plane. (PA)

As the Government rules that all travellers returning to the UK must take a PCR test and self-isolate until they receive a negative result. 

The UK is also tightening its borders with a ban on travel for 10 countries in southern Africa where the variant is thought to be spreading. 

EasyJet has said that "It’s too soon to say what impact Omicron may have on European travel and any further short-term restrictions that may result.

"However, we have prepared ourselves for periods of uncertainty such as this."

The airline's comments came after the company announced a pre-tac loss of £1.04 billion for the year compared to a £1.27 billion loss from last year. 

Despite the business current uncertainty they said it is hopeful to recovery and re-gain pre-pandemic levels of trading over its current year.

Chief executive Johan Lundgren said: "We have seen an encouraging start to this year, with strong demand returning for peak winter holiday periods coupled with increasing summer demand, with fourth-quarter capacity expected to be close to full-year 2019 levels."