Future Of British Business
Ryanair Lowers Profit Outlook on Battle With ‘Pirate’ Sites
- Low-cost carrier trims fares to keep planes filled up
- Sees Boeing quality progress; will take jets others don’t want
Ryanair aircraft at London Stansted Airport in Stansted, UK.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Ryanair Holdings Plc said its battle with so-called “pirate” websites is hurting profit, as the discount carrier lowers fares to keep its planes full.
The shares fell on Monday after Dublin-based Ryanair trimmed its earnings forecast, citing the added impact of rising fuel costs. It now expects profit of up to €1.95 billion ($2.11 billion) for the fiscal year ending in March — almost 5% below the €2.05 billion previous top-end of its range.