Ryanair hits turbulence as second profit warning issued

Budget airline Ryanair has issued its second profit warning in two months, warning that the company’s profits are set to fall due to downward pressure on prices.

The Irish airline expects average air fares to fall by about 9% in the current quarter and by up to 10% in the three months after Christmas.

Ryanair said its surplus for the year to March 31 may dip to as low as €500m (£423.3m), down from the €569m achieved a year earlier.

Average fare prices have already come down by 2% over the last 6 months.

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