Ryanair reduces earnings outlook

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Ryanair reduces earnings outlook

October 01, 2018 - 10:51
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Ryanair Holdings Plc became the latest European airline that reduced its earnings outlook due to problems with staff, as well as higher fuel costs, Bloomberg reports.

Photo © Michael Gaida, CC0 1.0

Ryanair Holdings Plc became the latest European airline that reduced its earnings outlook due to problems with staff, as well as higher fuel costs, Bloomberg reports.

The largest budget air carrier in Europe lowered its annual profit forecast by 12% to 1,1-1,2 billion euro. Two days of strikes in September resulted in lower passengers traffic and air fares, as well as lower sales for October flights as customers are afraid of new disruptions in Ryanair’s schedule.

Recently Ryanair had to refuse from policy of ignoring unions in order to come out of flight schedule crisis. As a result, personnel got more power in labor disputes. In August the company reached agreement with pilots in Ireland, agreement with other unions are under discussion.

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