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Ryanair Shares Nose Dive

category international | miscellaneous | other press author Monday February 04, 2008 12:40author by Michelle Crawley Report this post to the editors

Ryanair Profits Plummett amid market fears

Ryanair Shares Nose Dive

Ryanair took a 12% slump in this morning’s trade, further intensifying fears of poor market conditions amid recessionary fears. Today Ryanair announced a 27% drop in pre tax profits in its third quarter net profits. Further falls are predicted for the company in its next fiscal year.

'With oil prices at $90 a barrel and fear of recession in the UK and many other European economies, the current outlook for the coming fiscal year is poor. While it is impossible to accurately forecast full year fuel prices and yields this far in advance, there is now a significant chance that profits may decline next year,' Mr. O'Leary cautioned.

However Ryanair are not the only airline to suffer from the economic downturn, Aer Lingus shares are down 3 cent to €2.30. However shrewd, Mr. O’Leary has plans to spend up to 200 million purchasing back shares in the company, which equates to 3% of the company share capital. The shares may have plummeted, however like any of their bowing 747’s, their reliability and stability should see them soar through the present economic storm.

By Michelle Crawley.

Related Link: http://www.rte.ie/business/2008/0204/ryanair.html

 #   Title   Author   Date 
   Ryanair and fuel surcharges.     Terence    Mon Feb 04, 2008 14:54 


 
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