Nov 4, 2019

Ryanair warns of turbulence ahead

Whereas at its quarterly results it estimated profit after tax would be between €750m and €950m, now it reckons the figure will be between €800m and €900m. Last year post-tax profits were €1.02bn. Ryanair has been hit by the delayed arrival of the Boeing 737 Max planes, which promised increased fuel efficiency and so lower costs. Fares fell 5 per cent in the six months to September, while ancillary revenues were up 16 per cent, leaving revenue per passenger 1 per cent higher. Overall in the first half of the year, profit after tax was €1.15bn, flat on last year, while revenues were 11 per cent higher as the number of passengers climbed. Around 45 partners leave every year anyway, either out of choice or because they're pushed into retirement. The European Central Bank and German regulator BaFin warn there is a potential conflict of interest between the two roles and want them to be separated in the next year or two, according to three people familiar with internal discussions.

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