On Friday, Deutsche Bank downgraded its advice on Ryanair shares to 'hold' from 'buy', with a price target lowered from 28 to 22 euros, believing it was time to 'pause' on the stock.

In a note, the intermediary explains that it is concerned by recent comments made by the carrier's CEO, who stated at the time of the last earnings release that he was seeing a "certain degree of reluctance in consumer spending" and the "beginning of a recessionary climate".

This is supported by the weakness in our ticket price indicator, which could suggest that Ryanair will have to discount more heavily than its competitors", he added.

DB now expects ticket prices to remain stable in the current 2024/2025 financial year, rather than rising by 3.4% as previously, which leads it to expect pressure on the group's results.

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