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Ryanair CEO said that the booking momentum has improved, but expects profits to decline this year.
Ryanair Chief Executive Michael O'Leary said on Tuesday that since August, the booking momentum has improved and the demand for price reductions has decreased, but he expects profits this year to be slightly lower than last year. He said that by the end of September, ticket prices may be 5% to 9% lower than the same period last year, and there are signs of improvement in recent weeks, believing that the discount trend in October and November will narrow. O'Leary also expressed optimism about Boeing's ability to deliver the company's large aircraft, the MAX 10, on time.
US stock market highlights: aviation/airlines industry rises, Ryanair's stock price increases by over 5%.
On September 17th, Ruian Airlines rose by more than 5%, United Airlines and Delta Air Lines rose by more than 3%, American Airlines and Spirit Airlines rose by more than 2.5%.
Ryanair Seeing Better Momentum in Bookings, Less Need to Discount, CEO Says
Express News | Ryanair's O'leary: Expectation Is That Ticket Prices Will Be Slightly Down This Winter Y/Y; Too Soon to Put Number on It
Express News | Ryanair's O'leary, Asked if He Was Confident Max 10 Would Be Delivered on Time, Said He Is Optimistic but Not Confident
Express News | Ryanair CEO O'leary: FY Profit Will Be 'slightly Down' This Year Against the Prior Year
Express News | Ryanair's O'leary: In August, September We Have Seen Better Momentum in Bookings, We Have Needed to Discount Less
Express News | Ryanair's O'leary: We Think the Trend Will Be Towards Smaller Fare Discounts in September, October, November
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Express News | Ryanair CEO: Due to the Boeing strike, the number of aircraft expected to be received next summer is expected to decrease to 20.
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