Dublin — Ryanair cut its forecast for full-year profit for the second time in three months on Friday, this time blaming lower-than-expected winter fares, and said it could not rule out a further downgrade if Brexit causes disruption. Shares in the Irish-based carrier fell on the news and also weighed on rivals such as EasyJet as Ryanair said short-haul overcapacity in Europe had led to fare cuts. Europe’s largest low-cost airline now expects profit after tax for its financial year to March 31 — excluding start-up losses at its Laudamotion unit — of between €1bn and €1.1bn,compared to a previous estimate of €1.1bn to €1.2bn. The airline had originally forecast profits of €1.25bn to €1.35bn before a profit warning in October after a series of strikes across Europe during the summer that hit traffic and bookings. Pressure on low-cost carriers CEO Michael O'Leary said pressure on low-cost carriers was likely to reshape the industry and that growing passenger numbers for the Irish carrie...

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