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Ryanair lowers profit forecast amid tough competition

3 monthes ago   |   By National Post

LONDON - Budget airline Ryanair, Europe's biggest carrier by passengers, has warned its profits will be lower than expected - the second such downgrade in four months - because of weaker fares over the winter.
The company said Friday it expects full-year profit of between 1 billion euros and 1.1 billion euros, down from a range of 1.1 billion euros to 1.2 billion euros previously. It said that while traffic is up, winter fares are expected to fall 7 per cent.
CEO Michael O'Leary noted there was stiff competition and expects some rival budget carriers to fall out of the market. Companies...
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