Ryanair's Changing Altitude
On Feb. 4, Michael O'Leary, chief executive of Ryanair (RYAAY), Europe's largest airline by number of passengers, warned that its profits could be cut by up to half next year due to a "perfect storm" of rising oil prices, weakening consumer demand, and higher airport charges. Shares plunged more than 15% in Dublin trading on the news before bouncing back to end the day down 2.2%.
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