AVIATION
Ryanair tumbles after forecast of ticket price drop
The Irish airline predicts fares could slide 8% in the six months to March 2018
London — Ryanair Holdings predicted that ticket prices would decline in the rest of 2017 as Europe’s biggest discount carrier competes for customers amid excess capacity. The shares fell the most in four months. The Irish airline said fares would slide 8% in the six months to March 2018, accelerating from a 5% drop in the financial first half. Ryanair reaffirmed its threat to shift aircraft out of the UK because of Brexit, saying it needed clarity by 2018. Europe’s carriers are facing a squeeze as the low oil price encourages airlines to add routes and flights that might otherwise be unprofitable. Ryanair, which has the lowest operating costs in the industry, is increasing its passenger target for financial 2018 by 1-million people to 131-million. "Our bookings are strong but it’s very competitive," chief financial officer Neil Sorahan said on Monday. "With low fuel, there are guys in the market who possibly shouldn’t be there. There’s been a lot of capacity that’s come into places ...
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