Ryanair cuts its growth plan by 12% due to strikes and falls on the stock market

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Ryanair cuts its growth plan by 12% due to strikes and falls on the stock market




The airline's stock plummets 27% since the first wave of stoppages organized by its workers in Europe in mid-July



  Ryanair has not had a good summer. The strikes of its employees across Europe since mid-July have caused both its reputation and its benefits to fall. The Irish airline has lowered its profit forecast for this fiscal year by 12% and blamed it precisely for the stoppages. The announcement caused the shares of the company to fall almost 13% at the close of the session of the London Stock Exchange and quote 12.8% less compared to last Friday.

  At the close of the session the value of each title is at 11.43 euros, when Friday was at 13.12 euros. "The revision of our growth forecasts has taken into account the impact of the strikes called this summer, the increase in costs for compensation to customers and the rise in oil prices," the company said in a statement. In addition, he explained that the strikes caused a decline in revenues and reserves due to a "loss of confidence" of the passengers.

The mobilizations, which began in mid-July, have meant for Ryanair a 27% drop in the value of its shares since then. Its price has oscillated from 18.3 euros to the minimum reached yesterday of 11.43. The airline directed by Michael O'Leary placed its expectation of income until March 31, 2019 between 1,100 and 1,200 million euros, a value well below the 1,350 of the previous estimate.

The strikes of the last months have contributed to that the investors "are giving the back to Ryanair", that in the previous summers registered profits "much superior" to those of his competitors, explains to this newspaper Paloma Salmerón, of AirHelp. These situations have caused many passengers to opt for other airlines that "give more confidence to users". The communication director of the passenger assistance platform reminds that the company "has to comply with the laws" and pay the corresponding compensation to its passengers. Only by the last strike last Friday, the airline would have to pay more than 11 million euros in compensation rights to the affected passengers.

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