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18 October 2017 Flybe shares plunge 19% News reports state that stricken airline sector to hit trouble after issuing a profit warning to investors on Wednesday.In a statement to the markets, Flybe - Britain's third largest airline behind easy Jet and British Airways - said that its profits for the first half of the 2017/18 financial year are now expected to be between 5 million and 10 million, a downward revision from a forecast of 15.9 million. ET) a small rebound is underway, although shares remain close to 16% lower, trading at 37.5 pence each.
The airline company said Wednesday that hurricanes cut income by million in the third quarter and between million and million for the fourth quarter, the Washington Post reported.Speaking yesterday, CEO Michael O'Leary said the radical U-turn was a bid to avoid travel chaos for customers during Christmas week.Mr OLeary spoke to the airlines chief captains across its almost 90 bases.One day of industrial action is planned for Wednesday December 20 and will mostly involved captains.In a statement yesterday evening Ryanair said:"The IMPACT union promised to call off the strike if Ryanair conceded recognition. DE) planned acquisition of Niki fell through and no other buyer could be found at short notice, Niki filed a petition to open insolvency proceedings with the a court in Berlin-Charlottenburg, it added.