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LONDON: Ryanair has canceled its annual earnings forecast for the second time (18 January), due to lower air fares due to overcapacity after already reducing profit forecasts due to strikes.
The no-frills Irish airline has also warned that its annual earnings guidance could be further reduced due to Brexit.
Ryanair said the after – tax profit would range between 1.0 and 1.1 billion euros (1.14 and 1.25 billion US dollars) by the end of March. He had already reduced his forecast in October to 1.1-1.2 billion euros.
Ryanair said that winter rates should have dropped by 7%, after having already announced a 2% drop.
And he warned that his forecasts of annual results could be further reduced.
"Although we have reasonable visibility on fourth-quarter bookings, we can not rule out further reductions in air fares and / or forecasts slightly lower than the full year in the event of an unexpected change in Brexit or security, "said General Manager Michael O. Leary in a statement.
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