Ryanair will not stop flying British tourists into Spain despite the government imposing a two-week quarantine on people returning from the Mediterranean nation after a flare up of coronavirus.

The airline’s chief financial officer Neil Sorohan said the decision to remove Spain from the list of countries exempt from the UK’s quarantine was “regrettable” and “very disappointing”.

“We will continue to operate in and out of Spain as normal, but we are keeping our entire operation under consideration, we have to look at things as they evolve,” Mr Sorohan later told the BBC.

Ryanair had not noticed a significant numbers of travellers cancelling or rescheduling their flights during the weekend after the new quarantine rules were announced either, he said.

One of the company’s biggest competitors, holiday firm Tui, has said it will cancel all holidays from Britain to Spain until 9 August following the government’s announcement.

“We know how much our customers look forward to their holiday abroad and some will be able to accommodate the new quarantine restrictions,” the company said in a statement.

“Therefore all those that wish to travel to the Balearic Islands and Canary Islands will be able to travel as planned from Monday 27 July.”

British Airways said the quarantine was “yet another blow for British holidaymakers and cannot fail to have an impact on an already troubled aviation industry” and vowed to continue its flights to and from Spain regardless, as did EasyJet, which noted the resurgence of Covid-19 was only in certain regions in Spain and yet the quarantine was a blanket one for the whole country.

Although other European countries are also subject to the same 14-day quarantine requirements – including Portugal and Sweden – the Spanish restrictions will hit the holiday industry the hardest.

Some 15 million Britons visit Spain each year, almost twice as much as the next most popular nation, France.

Ryanair also announced its quarterly earnings on Monday, revealing it has suffered the worst three months of its history, losing £168m as it grounded its entire fleet during the lockdown.

These restrictions meant the airline only carried 500,000 passengers during the last quarter, compared with 41.9m during the same period last year.

The company said it aimed to run about 40 per cent of its normal July schedule, rising to 60 per cent in August and 70 per cent by September.

“It is impossible to predict how long the Covid-19 pandemic will persist, and a second wave of Covid-19 cases across Europe in late autumn (when the annual flu season commences) is our biggest fear right now,” the company said in a statement.

“Hopefully EU governments, by implementing effective track and tracing systems, and EU citizens by complying with recommended face masks, rigorous hand hygiene and other measures, will avoid the need for further lockdowns or restrictions on intra-EU flights.”