RYANAIR has dropped its 2016-17 net profit outlook 5% to US$1.4-US$1.5 billion due to currency exchange concerns following Brexit. The low-cost carrier is based in the Republic of Ireland but 26% of its revenue is in UK pounds. The carrier said while higher load factors and stronger traffic growth will help balance the weaker revenue, it is prudent to adjust full-year guidance.
The above snippet is the first part of an article sent to subscribers in Travel Daily's issue from 19 Oct 16
Make a comment...
Established in 1994, Travel Daily is Australia's leading travel industry publication, and is sent as a paid subscription to people across the industry as a PDF newsletter every weekday.
To sign up for a free 14-day trial, click on the button at right.