Ryanair warns drop in pound will hit full-year profit

Ryanair warns drop in pound will hit full-year profit
 

Ryanair said a further drop in the value of sterling has forced it to cut its forecast for full-year profit by 5 percent, adding that average fares could fall more sharply this winter.
Europe's largest low-cost airline, which depends on Britain for around a third of its revenue, said an 18 percent slide in the pound against the dollar following the country's vote to leave the European Union, will cut fares by between 13 percent and 15 percent.
Chief Executive Michael O'Leary said the reduced forecast "remains heavily dependent upon no further weakness in second-half fares or sterling... read more

 
18 October 2016 in World News, Views: 39
Source: Reuters
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