Feb 07 2017
Continued Brexit uncertainty today prompted Ryanair to present a "cautious" outlook for the remainder of FY17, hot on the heels of low-priced rival EasyJet's January warning that its pre-tax profit for the year will take a heavy hit as a result of the weakness of the pound.
Ryanair's average fares dropped 17 per cent in the reporting period, offset by a 16-per cent rise in passenger traffic.
But it stood by its previous guidance that annual post-tax profit would be in a range from €1.3bn to €1.35bn, although it said that guidance depended heavily on the absence of "security events" affecting bookings in its final two months of the year.
The Dublin-based company said Monday that its net income fell to 94.7 million euros ($102 million) from 102.7 million euros a year earlier.
Looking out into fiscal year 2018, the company is still finalising budget but it seems clear that pricing will continue to be challenging and it will respond to these adverse market conditions with strong traffic growth and lower unit costs.
It expects yields, or average fare per passenger per mile, in the fourth quarter to be down by 15 per cent. Ryanair expects the United Kingdom pound to remain volatile for some time, and said there could be a slowdown in European and United Kingdom economic growth as Brexit moves closer, with uncertainty remaining a challenge.
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Mohammad Aseem, governor of the hard-hit northern province of Parwan, said 16 people had died in two districts. There are fears the number of deaths will continue to rise as heavy snowfall is predicted for the coming days.
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While the firm has recently extended its growth deal at Stansted and said there may be further opportunities to expand at United Kingdom airports, it expects growth in the United Kingdom to be "at a slower pace than previously planned".
Robin Byde, a transport analyst at Cantor Fitzgerald, said: "There is too much capacity in the European short haul market and both Ryanair and easyJet have ambitious growth plans".
But he points out that, while fares have fallen over the winter, the airline's load factor rose to 95% over the quarter.
During the third quarter, Ryanair opened five new bases in Bucharest, Romania; Hamburg and Nuremberg, Germany; Prague, Czech Republic; and Vilnius, Lithuania.
"Ryanair expects to announce some additional United Kingdom and European Union growth deals in the coming months, as airports compete for our growth against the hard backdrop of Brexit uncertainty", the airline added.
"We expect sterling to remain volatile for some time and we may see a slowdown in economic growth in both the United Kingdom and Europe as we move closer to Brexit", he said.
Feb 07 2017
Xiaomi set to launch Redmi Note 4X on Valentine's Day
Xiaomi Redmi Note 4X is set for an official release on Valentine's Day, latest reports coming from China can confirm. After launching the Redmi Note 4 previous year , Xiaomi is all set to take the wraps off the follow up smartphone.
Feb 05 2017
UK January PMI Services PMI Index Slows To 54.5, Inflation Pressures Continue
It therefore covers about half the economy, whereas official data on services published with more of a lag covers nearly 80%. The PMI report polls private sector companies but does not cover retailers or government services.
Feb 04 2017
Oil Rises after First Month of OPEC Cuts
Both Brent crude and WTI prices fell on Thursday after official data showed that USA stockpiles rose by 6.5 million barrels. Russian Federation cut production in January by around 100,000 barrels per day ( bpd ), according to data seen by Reuters .
Feb 04 2017
Massachusetts Becomes the Second State to Sue Trump over Muslim Ban
The advocacy organization Oxfam has also joined ACLU and Commonwealth of MA in a lawsuit against the executive order. On Sunday, Healey was one of 17 Democratic attorneys general who signed a letter vowing to "fight" Trump's order.
Feb 04 2017
What Could Hudson's Bay see in Macy's — Business Report
Shares of Macy's rose as much as 12 percent Friday, its biggest intraday gain since August 11, according to Bloomberg. Last month, Macy's announced plans to cut more than 10,000 jobs and close stores, including one at the Everett Mall.
Feb 03 2017
Pat McAfee Retires From Indianapolis Colts, Will Join Barstool Sports
Barstool Sports is a fast-growing digital company focused on sports and men's lifestyle - often with a amusing twist. Pat McAfee has announced his retirement from football at the age of 29.
Jan 31 2017
Richard Sherman interception highlights Seahawks' efforts in 2017 Pro Bowl
Fellow Cowboys rookie carried the ball eight times for 20 yards and was stuffed at the goal line on two runs in the first quarter. The fullback position was used sparingly in the NFC offense, but that didn't stop Tolbert from making an impact.
Jan 30 2017
Spurs edge Wycombe in seven-goal FA Cup classic
Pochettino shared his words to Wycombe manager, Gareth Ainsworth , at the final whistle, adding: "I said well done, well played". They have done the whole town proud, they have done me proud, done themselves proud.
Jan 30 2017
Oscar nominated actress Emmanuelle Riva has died aged 89
Riva was Oscar-nominated for her role in " Amour ", Michael Haneke's brutal depiction of an aging couple. French President Francois Hollande said via statement that the actress "deeply marked French cinema".
Jan 29 2017
Trump administration drafts decree to lift sanctions against Russian Federation
Some Republicans who have differed with Trump on Russian Federation , including Sens. "There goes that relationship!" he joked. The two massive personalities have sparked comparisons to Cold War-era brinkmanship between the US and the old Soviet Union.
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