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
Sterling steadied around $1.29 on Friday as dealers took a breather at the end of a dizzying week and on the eve of a vital vote on UK Prime Minister Boris Johnson’s Brexit deal.
China’s third-quarter economic growth slowed more than expected and to its weakest pace in almost three decades as the bruising US trade war hit factory production, boosting the agenda for Beijing to roll out a fresh fiscal support shortly.
Indian markets gained during the early trade on Friday as investors bought company shares with significant business in Britain after EU and Britain reached a new Brexit.
The Abu Dhabi Department of Energy (DoE) is preparing to take part in Dubai’s ‘Green Week’ event next week, as it also joins the 21st edition of the Water, Energy, Technology and Environment Exhibition (Wetex) as a ‘Diamond Sponsor’.