Passengers disembark from a Ryanair aircraft at Charleroi airport, Belgium. Agence France-Presse
Ryanair reported its weakest annual profit in four years and said earnings could fall further as Europe suffers what Chief Executive Michael O’Leary described as “attritional fare wars.” Shares in the airline, Europe’s largest low-cost carrier, fell 6 per cent on Monday after its profit forecast for the year to next March fell short of analyst expectations.
Ryanair reported a 21 per cent drop in quarterly profit on Monday as price wars in several European markets drove ticket prices lower, but it stuck to its annual profit target as passengers continued to spend on onboard extras.
United Airlines is canceling more than 2,400 flights during the busy summer travel season as Boeing’s 737 Max jets remain grounded. Chicago-based United Airlines had already pulled flights on the 737 Max
Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region, and home to the largest, most developed financial technology ecosystem in the region,
Oil prices hit four-month highs on Monday after attacks on crude facilities in Saudi Arabia fuelled worries over the impact of an oil shock on economic growth, halting a positive run in world stocks and bolstering demand for safe-haven assets.
Marwan Bin Haidar, Executive Vice President of Innovation & The Future at Dubai Electricity and Water Authority (Dewa) highlighted Dewa’s role in supporting energy start-ups during a plenary session at the 24th World Energy Congress