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Ryanair cuts profits outlook

by LLB Finance Reporter
29th Jan 24 10:25 am

Ryanair has cut their profit outlook amid a rise in fuel costs after being removed from some online travel agent sites.

In the third quarter to the end of December, Ryanair reported tax profits falling to €15 million from €211 million the previous year.

The budget airline said the groups fuel bill rose to €1.2 million.

Ryanair boss Michael O’Leary said, “While we will benefit from the first half of Easter traffic falling in late March, this is unlikely to fully offset the weaker than previously expected load factors and yields late in the third quarter and early fourth quarter.”

Ryanair said in a statement, “While traffic and fares were ahead of prior year, close-in Christmas/New Year loads and yields were softer than previously expected as Ryanair lowered prices in response to the sudden (but welcome) removal of flights from OTA (online travel agent) pirate websites in early December.”

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