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Ryanair shock profit warning sends shares tumbling

Irish low-cost airline Ryanair issued a shock profit warning on Wednesday, sparking a share price plunge. The airline said the group's annual net profits could miss forecasts owing to intense competition and falling airfares. The gloomy news sent shockwaves through Europe's airline sector, with shares in Easyjet, British Airways-owner IAG and Germany's Lufthansa also falling heavily. Ryanair shares were down 14.59 percent at 5.79 euros approaching midday in Dublin trading.

Ryanair issues profit warning

Irish low-cost airline Ryanair warned on Wednesday that annual net profits could miss forecasts, adding it would cut winter capacity due to intense competition and falling fares in Europe. "The airline now expects the full-year outturn will be at the lower end of its full-year net profit range of 570-600 million euros ($750-790 million)," Ryanair said in a statement. "However if fares and yields continue to weaken over the coming winter there can be no guarantee that the full-year outturn may not finish at or slightly below the lower end of this range."

UK orders Ryanair to sell 30 per cent stake in Irish rival Aer Lingus; Ryanair vows to appeal

DUBLIN - British competition authorities have ordered Ryanair to sell its stake in Aer Lingus, a ruling that could deal a fatal blow to Ryanair's 7-year campaign to acquire its main Irish rival. Ryanair vowed to appeal Wednesday's judgment by the United Kingdom Competition Commission. Ryanair chief Michael O'Leary called it "bizarre." The commission ordered Ryanair to reduce its 30 per cent holding in Aer Lingus to 5 per cent to eliminate what it described as Ryanair's ability to "impede or prevent" Aer Lingus' acquisition by any other airline.

Ryanair offers to sell Aer Lingus stake

Irish no-frills airline Ryanair on Tuesday said it was prepared to sell its minority holding in rival Aer Lingus to address "unfounded" British regulatory concerns. Britain's Competition Commission watchdog in May called on Ryanair to cut its 29-percent holding, arguing that the stake risked reducing competition on routes between Britain and Ireland. Ryanair responded on Tuesday with as strongly-worded statement, in which it said it was willing to see if any airline would indeed be prepared to take over Aer Lingus, which it clearly doubted.

Ryanair increases profits to new record high, forecasts even better results for 2014

DUBLIN - Ryanair reported record profits Monday as Europe's largest budget airline expanded its route network across the continent and into North Africa. Ryanair's share price also surged to an all-time high after the Dublin-based carrier predicted it would enjoy similar, if not better, earnings in the coming year.

Dutch watchdog fines Ryanair over hidden ticket costs

AMSTERDAM (Reuters) - Irish low-budget airline Ryanair has been fined 370,000 euros(314,180.28 pounds) by the Netherlands Consumer Authority for hidden costs associated with tickets purchased online by Dutch travellers. The watchdog said that European regulations had been violated because full costs were unclear, consumers were not given the option to correct mistakes before finalising a booking and the company was difficult to contact and provided information in English, not Dutch.

URGENT ¥¥¥ Ryanair unveils order for 175 Boeing 737s worth $15.6 bn

Irish low-cost airline Ryanair on Tuesday announced that it has ordered 175 Boeing 737-800 airplanes worth $15.6 billion (12.1 billion euros) at catalogue prices. "Ryanair ... today signed an agreement with the Boeing Company to purchase 175 new Next Generation 737-800 airplanes," it said in a statement, adding it was the Boeing's largest deal to date in 2013 and would be the largest ever aircraft order from a European airline. mg-rfj/arp

Ryanair lifts Boeing with $16 billion 737 order

By Conor Humphries and Adam Kerlin DUBLIN/NEW YORK (Reuters) - Budget Irish airline Ryanair handed Boeing <BA.N> its largest European order ever on Tuesday, a deal for 175 jets worth $16 billion (10.59 billion pounds) at list prices that boosts the U.S. planemaker's fortunes and strengthens the Irish carrier's domination of Europe's low-cost market.

EU turns down Ryanair again on Aer Lingus takeover

The European Commission on Wednesday barred a third attempt by low-cost airline pioneer Ryanair to take over its Irish rival Aer Lingus, citing concerns passengers would lose out badly. Ryanair immediately said it would appeal, lambasting the decision as politically motivated and insisting its proposed remedies to competition problems were not given due weight.

EU bars Ryanair takeover of Aer Lingus

The European Commission said Wednesday it had barred a third attempt by low-cost airline pioneer Ryanair to take over its Irish rival Aer Lingus due to concerns passengers would lose out. The "merger would have harmed consumers by creating a monopoly or a dominant position on 46 routes ... this would have reduced choice and, most likely, would have led to price increases for consumers," the Commission said in a statement. It said Ryanair offered several remedies to meet these competition concerns but they "fell short" of what was needed.
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