Ryanair\n \n , Europe’s largest airline by passenger numbers, warned Monday that high inflation and rising interest rates could dent appetite for air travel in the second half of the year. “We’re concerned about the impact of these macroeconomic trends,” CEO Michael O’Leary said in a video posted on the company’s website, adding that they “might affect consumer spending in the second half of the year.
” His comments Monday show that his outlook has turned more cautious, even though Ryanair reported profit of €663 million for the three months ending in June — nearly four times higher than in the same period last year, when bookings were badly affected by Russia’s full-scale invasion of Ukraine. Average air fares at Ryanair jumped 42% in the latest quarter, following heavy discounting last year, but the company noted a “softening” in fares for last-minute bookings in June and early July.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk says Twitter logo to change, birds to be gradually abandoned | CNN BusinessElon Musk tweeted on his official account on Sunday that Twitter would be changing its logo to an “X” and that all the birds will be disappearing from the platform.
Source: cnni - 🏆 326. / 59 Read more »
'It comes up on you fast:' Scorching heat is crushing American businesses | CNN BusinessA 119-degree day in Phoenix hits like a blast of hot air from the oven with no relief in sight, and for a business owner like Lyn Thomas, there’s hardly any avoiding it.
Source: CNN - 🏆 4. / 95 Read more »
'Barbie' dominates the box office, raking in a $155 million opening weekend | CNN BusinessGreta Gerwig’s “Barbie” raked in a stunning $155 million domestically over the weekend, giving the film the largest opening weekend of 2023 and the biggest ever debut for a female director.
Source: CNN - 🏆 4. / 95 Read more »
What's ahead this week for Wall Street and the economy | CNN BusinessWhat's ahead this week for Wall Street and the economy | Analysis by Krystal Hur
Source: CNN - 🏆 4. / 95 Read more »
Sex scene in 'Oppenheimer' becomes latest target of India's Hindu nationalists | CNN BusinessChristopher Nolan’s latest blockbuster movie “Oppenheimer” has sparked controversy among the Hindu-right in India, with some calling for a boycott and demanding the removal of a sex scene in which the titular character utters a famous line from the religion’s holy scripture.
Source: CNN - 🏆 4. / 95 Read more »