• Sunday, August 14, 2022

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Ryanair Lowers Full Year Profit Guidance By 12 Per Cent As Strikes Take Toll

Ryanair Lowers Full Year Profit Guidance By 12 Per Cent As Strikes Take Toll (Photo: JOHN THYS/AFP/Getty Images).

By: Radhakrishna N S

The budget airline, Ryanair has cut its full-year (2019) profit guidance following higher crude oil prices, staff strikes, compensation expenditure, and others. Ryanair lowered its full year profit guidance (excluding Laudamotion) from a current range of €1.25 billion – €1.35bn, to a new range of €1.10bn – €1.20bn. The airline said, lower traffic and weaker close in fares in September, caused by two days of co-ordinated pilot, cabin crew strikes in Germany, Holland, Belgium, Spain and Portugal have adversely impacted the company’s operations. The company was forced to lower its profit guidance after higher EU261 care and re-accommodation costs arising…

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