Ryanair cuts its profits forecast by 5% as it becomes the latest airline to pay the price for the pound's plunge
Ryanair has become the latest airline to warn over the impact of the plunging pound after it revealed profits for this year will take a hit.
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.
However shares in London rose as analysts said they had anticipated the announcement, adding that compared with its peers the warning was mild.
Shares listed on the FTSE 100 were up 3 per cent at €12.2 this morning.
Ryanair’s problem is that many of its sales are booked in the UK in pounds and have to be... read more
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