Ryanair Sees Continuing Brexit Turbulence in Flight Path
Ryanair Holdings Plc warned it may lower its fiscal 2017 profit forecast amid weakening travel demand stemming from Britain’s decision to exit the European Union. The uncertainty surrounding economic growth and consumer confidence following the Brexit vote will lead to further fare declines in the second quarter with the company now predicting an 8 percent drop in fares in the six months through September, compared with an earlier forecast of a decline of 5 percent to 7 percent. While Ryanair stuck to a target for net income for the 12 months through March 2017 to rise to between 1.38 billion euros to 1.43 billion euros ($1.57 billion), the company said there are risks to the forecast. Chief Financial Officer Neil Sorahan discusses with Bloomberg's Anna Edwards and Manus Cranny on "Countdown."