Buffeting: Ryanair takes profit hit in wake of fuel price hikes and strikes

Ryanair has issued a profit warning after suffering the effects of recent crew strikes and rising fuel prices. The budget airline said that fullyear profits will be 12 per cent lower than expected, having dropped its guidance to between €1.1 billion (£978 million) and €1.2bn. It had previously expected profits to fall within a range of €1.25bn to €1.35bn. Ryanair noted that pilot and cabin crew strikes in September had taken their toll, knocking passenger numbers and resulting in passenger compensation costs.