Ryanair's shocker – headed for full year loss
Investors savaged Ryanair shares, after the LCC recorded its first quarterly loss since 1997, due to soaring fuel costs (+91.5% year-on-year, as the carrier flew unhedged) and massive write-downs on its speculative investment in Aer Lingus. By the end of the day, almost 23% of the airline’s share value had evaporated as CEO, Michael O'Leary, warned that the carrier could be headed for a full-year loss of up to EUR60 million.
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