The Irish airline, Ryanair, has recently completed fiscal year to 325 million dollars (about 300 million) is lost due to a wrong gamble on the evolution of the price of oil. That is, the price war is between Saudi Arabia and Russia are each other out, while Ryanair is via the so-called ‘hedging’ contracts had been hedged against the rising price of oil.
as of The fiscal year, Ryanair went on the 31st of march. The company warned Friday that its profit for the year, for which an extra charge will come out at around 950 million euros. That is, it is at the bottom of the forecast. The last year has made Ryanair more than € 1 billion of profit.
the current financial year, the lowcostmaatschappij in the process of changing “in view of the continuing uncertainty about the scope and duration of the appointment pandemic”, what it sounds like. Ryanair guarantees, however, that “it is in very good financial health, no debt and a comfortable liquidity position”.
Normally, a decrease in the price of oil is good news for the airlines. But a lot of players to cover themselves in their kerosinecontracten in advance for possible price increases. If the price then drops, very sharply, this time, it will cost them money. In addition, the coronacrisis also seen an effect on travel behaviour. Ryanair is currently only a little more than twenty flights a day to more than 2,500 in the case of the new corona virus.
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