Michael O’Leary cautionary on Ryanair financial growth

Ryanair’s financial growth plans continue to look shaky, with the airline’s management telling investors its current year progress could be hampered by lower fares and further potential global unrest.

The airline has continued to stick with the growth forecast it made in May — namely, for net profits of €1.375bn to €1.425bn for the 12 months to the end of next March.

However, chief executive Michael O’Leary reiterated a cautionary tone when addressing shareholders at the company’s AGM in Dublin yesterday. The airline made a net profit of €1.242bn in its last financial year.