United Kingdom  

Celebrating 10 Years of Trusted News Discovery
One News Page
> > >

Ryanair reports 20 million euro loss in third quarter

Video Credit: Reuters Studio - Duration: 01:13s - Published < > Embed
Ryanair reports 20 million euro loss in third quarter

Ryanair reports 20 million euro loss in third quarter

Ryanair reported on Monday a 20 million euro ($22.88 million) loss in the third quarter on weaker fares, which it expects to continue throughout the year.

Francesca Lynagh reports.

0
shares
ShareTweetSavePostSend
 

Ryanair reports 20 million euro loss in third quarter

Budget airline Ryanair reported a 20 million euro loss in the third quarter due to a six percent drop in fares.

That's its first quarterly loss since 2014.

But it didn't come as a surprise.

The weak third-quarter performance was flagged two weeks ago when Ryanair cut its profit forecast for the year for the second time in three months.

The airline announced that its long-standing Chief Executive will commit to a five-year contract - just as it looked as though he might step away from the business.

O'Leary will lead a new group structure overseeing the firm's four airline subsidiaries - a similar structure to that of British Airways owner IAG.

The airline has reiterated it won't rule out a further downgrade, noting possible uncertainty from Brexit.

Profit for 2018-2019 could be down by as much as 31 percent.

Ryanair blames that on strikes last summer, higher oil prices and short-haul overcapacity in Europe.

Shares in the company - down over 40 percent from a peak 18 months ago - were trading 4.6 percent lower on the results.




You Might Like


Tweets about this


Recent related videos from verified sources

Uber Slowed As It Gears Up For IPO [Video]Uber Slowed As It Gears Up For IPO

On Friday, Uber reported its loss dropped to $370 million last year from $4.5 billion in 2017. The company dramatically narrowed it loss last year, thanks to the sale of its businesses in Russia and..

Credit: Wochit     Duration: 00:33Published

Tesla Seen Forecasting A First-quarter Loss [Video]Tesla Seen Forecasting A First-quarter Loss

According to Reuters, Wall Street analysts expect Tesla Inc to forecast a loss for the first quarter when it reports results on Wednesday, having changed their expectations for a profit after Chief..

Credit: Wochit     Duration: 00:42Published

Netflix Reports Earnings Drop In 4th Quarter [Video]Netflix Reports Earnings Drop In 4th Quarter

According to Broadcasting Cable, Netflix reported lower fourth quarter earnings while forecasting that profit margins would grow next year. Nonetheless, global subscribers of the streaming service rose..

Credit: Wochit     Duration: 01:08Published

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.