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Ryanair falls victim to the plummeting pound

Michael O'Leary in 60 seconds

Europe’s favorite airline says the collapsing pound is taking a rather large bite out of its earnings.

Ryanair (RYAAY) said Tuesday that its full year profit will be 5% lower than previously expected. CEO Michael O’Leary, who campaigned for Britain to remain in the European Union, attributed the weaker forecast to a sharp decline in the value of the pound.

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