Ryanair Posts 1Q Pft; Outlook Remains Cautious

Ryanair Holdings PLC (RYA.DB) Monday said it swung to a first-quarter net profit but its shares fell after it warned its outlook remained cautious and that fiscal-year earnings would be at the lower end of its guidance.

The budget airline said it expects fiscal-year yields, or average revenue per passenger, to fall by at least 20%, while unit cost excluding fuel is forecast to drop about 5%.

Ryanair said it has limited visibility beyond the next two months and expects passengers to be price sensitive for the rest of the year. It previously had forecast fiscal-year net profit between EUR200 million and EUR300 million. At 1042 GMT, Ryanair shares traded down 29 cents, or 8.6%, at EUR3.08, while Dublin's benchmark ISEQ index traded down 0.9%.

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