Pursuits
Ryanair Clings to Profit Goal as Fare Cuts Counter Brexit Risk
- U.K. vote, terror wave pose ‘significant’ downside threat
- Discount carrier will reduce London exposure this winter
Ryanair Sees Continuing Brexit Turbulence in Flight Path
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Ryanair Holdings Plc surprised investors by sticking to its fiscal 2017 profit forecast with a plan to lower fares to lure more passengers even as Britain’s decision to quit the European Union and a string of terrorist attacks in major European markets weigh on demand.
Europe’s largest discount airline plans to carry 117 million passengers in the 12 months through March 2017, 10 percent more than a year ago and 1 million more than its previous target. The Dublin-based company intends to draw customers away from competitors, predicting ticket prices will drop as much as 12 percent in the second half of its fiscal year, compared with a projected 8 percent drop in the first half.