The airline Ryanair is reporting a loss and is now planning a restructuring of its operations.
The loss for the third quarter of the company's broken financial year was 20 million euros, equivalent to 207 million kronor. According to company management, the reason for the loss is falling ticket prices, something that is expected to continue for the rest of the year.
For the full financial year, which ends in March, earnings are expected to fall by 31 percent as a result of the strike this summer, higher fuel prices and general overcapacity in the European market.
The company management also announces that the company is being divided into four subsidiaries, with Michael O'Leary becoming Group CEO after signing a new five-year contract.
Source: TT
