DUBLIN – Budget airline Ryanair has cut its 2017 profit forecast citing the slump in the British pound.
The Irish-based carrier reports earnings in euros but does hefty business in the United Kingdom. Chief Executive Michael O'Leary says the 18 percent drop in the pound's value since Britain voted in June to leave the European Union has hurt the euro value of 26 percent of the airline's sales.
09:14 Airbus seeks new talks with European nations over A400M costs16
07:15 Telefonica to sell up to 40 percent of Telxius to KKR for 1.3 billion euros21
09:51 Airbus takes new hit for A400M as core profit beats forecasts16
14:29 Unilever rejects $143 billion Kraft Heinz bid as without merit20