Ryanair: strikes dropping profit target, title collapses

The net gains of the airline have been revised downwards by 12%, mainly due to repeated strikes. The company now anticipates an adjusted annual profit of between 1.1 and 1.2 billion

It’s a double dip for the low-cost airline, which is under the same pressure as the national airlines. Ryanair announced on Monday 1 October a downward revision of 12% of its adjusted annual profit target. For the 2018-2019 financial year, which will end on 31 March, Ryanair has stated that it anticipates net gains of between 1.1 and 1.2 billion euros, compared with a previous range of forecasts ranging from 1.25 to 1, 35 billion.

To explain this situation, the company mentions a decline in traffic and bookings due to strikes by its flight crew in various European countries. Due to the rise in oil prices, the kerosene bill is probably also involved.

The Irish carrier has further stated that it may be required to issue further warnings on results in the event of new strikes, announcements that make the Ryanair stock market fall

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