Ryanair Cuts Profit Outlook Over Strikes and Higher Oil Prices
Ryanair Cuts Profit Outlook Over Strikes and Higher Oil Prices. The share of airline Ryanair drops by almost 10 percent on the London stock exchange.
The company thinks that the annual profit will be more than 100 million lower than previously expected.
The company will no longer use Eindhoven airport from November. More and more customers also seem to be losing confidence in Ryanair.
Ryanair has cut the profit expectations. Because of the strikes, higher kerosene prices and lower passenger numbers, the Irish low-cost airline now starts from 1.3 to 1.5 billion dollars in profit in the current financial year. In the case of new strikes, a further reduction is not excluded, the company reports today.
Because of the strikes, the costs are higher, and the travellers have made fewer bookings for the coming autumn and Christmas period, it sounds.
If new strikes follow in the coming months (Ryanair’s third quarter), Ryanair may need to re-adjust its earnings prospects.