Ryanair cuts expectations on profit
Ryanair has cut its expectations for its full year profit by 5% due to sterlingÕs fall after the Brexit vote. The Irish low-cost carrier reduced its full year net profit guidance to between E1.30b and E1.35b, with profit expected to rise by 7% rather than the previous guidance of 12%. The UKÕs vote to leave the EU caused an 18% fall in the value of the British pound, which Ryanair said would reduce second half average fares by between 13 and 15%. ÒThe recent sharp decline in sterling post BrexitÉ will weaken H2 yields by slightly more than we had originally expected,Ó CE Michael OÕLeary said. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-10-19/unaligned/ryanair-cuts-expectations-on-profit
https://portal.staralliance.com/cms/logo.png
Ryanair cuts expectations on profit
Ryanair has cut its expectations for its full year profit by 5% due to sterlingÕs fall after the Brexit vote. The Irish low-cost carrier reduced its full year net profit guidance to between E1.30b and E1.35b, with profit expected to rise by 7% rather than the previous guidance of 12%. The UKÕs vote to leave the EU caused an 18% fall in the value of the British pound, which Ryanair said would reduce second half average fares by between 13 and 15%. ÒThe recent sharp decline in sterling post BrexitÉ will weaken H2 yields by slightly more than we had originally expected,Ó CE Michael OÕLeary said. <br/>
