StockMarketWire.com - Budget carrier Ryanair said it was too early to assess the impact of the coronavirus on its earnings, while downgrading its annual passenger volume guidance as a result of the outbreak.
Ryanair lowered its passenger target for the year through March 2020 to 151m, down from 154m, as a result of the suspension of flights to Italy.
The company said it did not expect those traffic reductions to have a material impact on its annual profit guidance for the current financial year.
However, it said it was 'far too early to assess' the impact of Covid-19 on its traffic and earnings in the the 2021 financial year.
Ryanair said it would 'continue to focus on delivering cost savings and improved operational efficiency' in the the 2021 financial year.
It also said it was 'one of the strongest airlines in the industry', with €4bn in cash and industry-leading unit costs. At 2:24pm: [LON:RYA] Ryanair Holdings PLC share price was +0.69p at 11.74p
Story provided by StockMarketWire.com
Shares Magazine
Shares is the leading weekly publication for retail investors. It is packed with investment ideas, news and educational material to help build and run portfolios and get more from your money.
Investor Events
Shares puts on free Investor Events throughout the year across the country. They provide an opportunity for investors to learn more about companies on the stock market and hear from a range of investment experts including fund managers and Shares journalists.