Budget airline Ryanair cuts its profits prediction by 5 per cent after pound falls

Budget airline Ryanair cuts its profits prediction by 5 per cent after pound falls
 

The Irish carrier blamed an 18 per cent fall in the value of sterling since the Brexit vote as it cut its annual earnings forecast by 5 per cent.
It said fares fell more than expected in the first half of its financial year - down 10 per cent - and were now set to drop by up to 15 per cent in the final six months as the Brexit-hit pound takes its toll.
Ryanair now expects full-year earnings of between €1.30billion (£1.17billion) and €1.35billion (£1.22billion), down from the previous range of €1.38billion (£1.24billion) to €1.43billion (£1.28billion).
It comes after rival easyJet revealed a... read more

 
18 October 2016 in Business, Views: 33
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