Ryanair forecasts 12% drop in profits

RYANAIR is set to post a 12% fall in third-quarter net profit next week after it warned of a drop in ticket prices during the winter and as a slowdown in British consumption sets in.

That has raised concerns about the airline’s prospects for 2008, knocking 16% off its share value so far this year. Europe’s biggest low-cost carrier is seen posting profit after tax of €41.8m in the three months to the end of December, according to Reuters forecasts. That compares with €47.7m last year.