Ryanair issues second profit warning

Ryanair has issued its second profit warning to reduce its full year profit guidance from €570 million to €510 million. The budget airline has blamed a fall in fares for the decline, since fares have fallen by 2% in the six months to September 2013. Ryanair has blamed factors from the summer heatwave in northern Europe to French air traffic control strikes in June, and weaker sterling. “The continuing fare and yield softness means that full year profits will be lower than previously guided (€570m to €600m). We now expect the full year outturn to be between €500m to €520m