Ryanair issues second profit warning in 4 months
Ryanair has issued its second profit warning in 4 months, saying airfares were falling more than expected over the winter. The company said Friday that full-year profits would be in the range of E1b-E1.1b, down from E1.1b-E1.2b, because of a predicted 7% drop in ticket prices. The previous forecast was for a 2% fall, but fast growth in the number of seats is pushing down prices across the low-cost sector. CE Michael O’Leary said he was “disappointed” about the downgrade and warned: “We cannot rule out further cuts to air fares and/or slightly lower full-year guidance if there are unexpected Brexit or security developments.” European airline shares have performed badly over the past year as high fuel prices, summer disruption and capacity growth have knocked investor enthusiasm. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-01-21/unaligned/ryanair-issues-second-profit-warning-in-4-months
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Ryanair issues second profit warning in 4 months
Ryanair has issued its second profit warning in 4 months, saying airfares were falling more than expected over the winter. The company said Friday that full-year profits would be in the range of E1b-E1.1b, down from E1.1b-E1.2b, because of a predicted 7% drop in ticket prices. The previous forecast was for a 2% fall, but fast growth in the number of seats is pushing down prices across the low-cost sector. CE Michael O’Leary said he was “disappointed” about the downgrade and warned: “We cannot rule out further cuts to air fares and/or slightly lower full-year guidance if there are unexpected Brexit or security developments.” European airline shares have performed badly over the past year as high fuel prices, summer disruption and capacity growth have knocked investor enthusiasm. <br/>
