Ryanair raises summer fare outlook as ‘ugly scenario’ avoided

The latest update in the business and finance world comes from Ryanair CEO Micheal O’leary, as reported by Reuters. O’leary no longer sees a risk of double-digit percentage falls in fares as the European short-haul weakness has “levelled out”. This news has had a significant impact on the market, causing Ryanair shares to rise by as much as 6%. In fact, they were the second-best performer on the pan-European STOXX 600 and also gave a boost to rivals Wizz Air and easyJet.

It is worth noting that just last month, O’leary’s warning about weakening ticket prices during the busy summer months had knocked 15% off the budget carrier’s share price. However, with the recent update indicating a more stable outlook, investors seem to have regained confidence in the airline industry.

The positive response to this news is evident in the rise of Ryanair shares and the overall market performance of related companies. This development underscores the importance of staying informed about the latest trends and updates in the business and finance sector.

For more exclusive and timely updates on business and finance, stay tuned to Reuters for the latest scoops and news.