Ryanair has cut its profit forecast for the current fiscal year, citing rising fuel prices and the impact of fare cuts after some online travel agencies removed them from their listings.
The Irish low-cost carrier said it expects full-year profit of 1.95 billion euros, below the previous ceiling of 2.05 billion euros.
The low range of forecasts remains at 1.85 billion euros.
“Fuel has been a big headwind for us,” Chief Financial Officer Neil Sorahan noted in an interview, Bloomberg reports.
The decision by online travel agencies such as Booking.com to remove Ryanair adverts, after a series of legal skirmishes, has led the company to reduce prices.
This “has had an impact on load factors and rates,” Sorahan said.
The Irish low-cost airline also recorded a profit after tax of 15 million euros in the third quarter, down from 211 million euros in the same period of the previous year.
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