Ryanair shares fall as airline loses ash cloud case
Ryanair's share price has fallen in London today (January 31st), after the carrier lost its European Union fight over the Icelandic volcanic ash crisis that blighted airlines in 2010 and grounded aircraft for more than a week.
In the landmark case, a court ruled the no-frills flight company was wrong to refuse to pay out cash to a customer left stranded by the event.
Denise McDonagh could not fly home to Dublin due to the ash cloud and was trapped in Portugal, running up a hotel and meal bill of €1,130 (£940), which she submitted to Ryanair who then refused to pay for these expenses.
Ms McDonagh's claim was transferred from the Irish courts to the European Court of Justice in Luxembourg, which has ruled in her favour with its judges ordering the carrier to cover the costs she incurred.
At 12:00 GMT today, Ryanair shares fell by 1.4 per cent to €5.50 per unit.
Find out about major individual shares and CFD trading strategies at City Index.
Comments are closed.
From time to time, City Index Limited’s (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.
As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.