Ryanair Shares Fall After Warning Fares Will Slide Over Year
- Price decline anticipated as carriers compete for passengers
- Some airlines ‘possibly shouldn’t be there,’ CFO Sorahan says
Ryanair's CFO Sees Fares Down 8% in 2Q
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Ryanair Holdings Plc predicted that ticket prices will decline through the rest of the year as Europe’s biggest discount carrier competes for customers amid excess capacity. The shares fell the most in four months.
The Irish airline said fares will slide 8 percent in the six months through March 2018, accelerating from a 5 percent drop in the fiscal first half. Amid the competitive pressure, Ryanair reaffirmed its threat to shift planes out of the U.K. because of Brexit, saying it needs clarity by next year.