Ryanair clings to profit goal amid Max grounding, price war

Ryanair clung to its full-year earnings outlook as a fare war and the grounding of Boeing’s 737 Max jetliner ate into Q1 profit at the airline. Margins on ticket sales are shrinking, with a glut of seats hurting prices in Germany and concerns around Brexit weighing on UK demand, Ryanair said Monday. At the same time, a jump in revenue from food, extra bags and faster boarding should keep the discounter on track to meet fiscal 2020 targets. The impact of the fare war has been exacerbated by the global idling of the Max. CFO Neil Sorahan said Ryanair’s lower cost base means it’s still better off than European rivals, and stands to gain market share from any shakeout of the sector next winter. “Longer term...we’re in a very strong position to participate in the opportunities that will inevitably arise,” he said. <br/>