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You can find the current article at its original source at http://www.theguardian.com/business/2018/oct/01/ryanair-profits-strikes-oil-price-eindhoven-bremen
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| Version 3 | Version 4 |
|---|---|
| Ryanair warns over profits as strikes and oil price take toll | Ryanair warns over profits as strikes and oil price take toll |
| (about 2 months later) | |
| Ryanair has warned that full-year profits will be lower than expected, blaming the impact of strikes and rising oil prices. | Ryanair has warned that full-year profits will be lower than expected, blaming the impact of strikes and rising oil prices. |
| The budget airline said full-year profits will be 12% down. It has lowered the expected range from €1.25bn-€1.35bn (£1.1bn-£1.2bn) to €1.1bn-€1.2bn. | The budget airline said full-year profits will be 12% down. It has lowered the expected range from €1.25bn-€1.35bn (£1.1bn-£1.2bn) to €1.1bn-€1.2bn. |
| It said it suffered a drop in traffic due to pilot and cabin crew strikes in September, which hit consumer confidence and knocked forward bookings in the third quarter. | It said it suffered a drop in traffic due to pilot and cabin crew strikes in September, which hit consumer confidence and knocked forward bookings in the third quarter. |
| Late, late show: passenger tries to flag down plane at Dublin airport | Late, late show: passenger tries to flag down plane at Dublin airport |
| Ryanair also cited higher oil prices. | Ryanair also cited higher oil prices. |
| Its chief executive, Michael O’Leary, said: “While we successfully managed five strikes by 25% of our Irish pilots this summer, two recent co-ordinated strikes by cabin crew and pilots across five EU countries has affected passenger numbers (through flight cancellations), bookings and yields (as we re-accommodate disrupted passengers), and forward air fares into Q3. | Its chief executive, Michael O’Leary, said: “While we successfully managed five strikes by 25% of our Irish pilots this summer, two recent co-ordinated strikes by cabin crew and pilots across five EU countries has affected passenger numbers (through flight cancellations), bookings and yields (as we re-accommodate disrupted passengers), and forward air fares into Q3. |
| “While we regret these disruptions, we have on both strike days operated over 90% of our schedule. | “While we regret these disruptions, we have on both strike days operated over 90% of our schedule. |
| “However, customer confidence, forward bookings and Q3 fares have been affected, most notably over the October school midterms and Christmas, in those five countries where unnecessary strikes have been repeated.” | “However, customer confidence, forward bookings and Q3 fares have been affected, most notably over the October school midterms and Christmas, in those five countries where unnecessary strikes have been repeated.” |
| Ryanair added that it has now cut its capacity for winter 2018 by 1% in response to the additional pressures. | Ryanair added that it has now cut its capacity for winter 2018 by 1% in response to the additional pressures. |
| Starting from 5 November, it will close its four-aircraft Eindhoven base, its two-aircraft Bremen base and cut its its five-aircraft Niederrhein base to three. | Starting from 5 November, it will close its four-aircraft Eindhoven base, its two-aircraft Bremen base and cut its its five-aircraft Niederrhein base to three. |
| However, it said most routes would continue. “All affected customers have been contacted by email/SMS this morning and will be re-accommodated on other flights or refunded as they so wish,” Ryanair said. | However, it said most routes would continue. “All affected customers have been contacted by email/SMS this morning and will be re-accommodated on other flights or refunded as they so wish,” Ryanair said. |
| “We will also now consult with our pilots and cabin crew at these three bases to minimise job losses. | “We will also now consult with our pilots and cabin crew at these three bases to minimise job losses. |
| “We expect to offer our pilots vacancies at other Ryanair bases but, as we have a large surplus of winter cabin crew, we will explore unpaid leave and other options to minimise cabin crew job losses.” | “We expect to offer our pilots vacancies at other Ryanair bases but, as we have a large surplus of winter cabin crew, we will explore unpaid leave and other options to minimise cabin crew job losses.” |
| Ryanair shares were down 7.5% in early trading. | Ryanair shares were down 7.5% in early trading. |
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