Fuel costs surge will spark shake-out, says Ryanair
Ryanair warns that its profits will fall due to rising oil prices and higher labour costs after a rostering foul-up left it short of pilots, forcing it to sweeten contracts and recognise trade unions.
Ryanair has warned that profits will slump for the first time in five years as rising labour costs compound a fuel price surge that may force weaker competitors out of business.
Net income could fall as much as 14 per cent in the year to the end of March 2019, the airline said this morning.
An increase in fuel costs will pressure earnings in the short term but could also spur a new round of airline failures...
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The way we did business a few months ago may never return – so the opportunity is to make changes that will both aid recovery and set us up well for our new futures