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European Airline

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"Ryanair Lowers Profit Forecast as Online Travel Agents Halt Sales"
business2 years ago

"Ryanair Lowers Profit Forecast as Online Travel Agents Halt Sales"

Ryanair has trimmed its profit forecast for the year due to a sudden halt in sales by online travel agents, resulting in increased empty seats on flights and lower-than-anticipated fares over the Christmas and New Year period. The company now expects an after-tax profit of 1.85-1.95 billion euros, down from its previous forecast, but still a potential record. CEO Michael O'Leary expressed some optimism for the summer, citing constrained European short-haul capacity and potential for higher ticket prices, while also reaffirming the company's commitment to increasing passenger numbers and considering expanding its aircraft order from Boeing.