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Ryanair reports profits down 29% on lower fare value

Air
Jennifer Morris
20 May 2019

Ryanair has reported full-year after tax profit down 29% to €1.02 billion, citing a decline in fare value.

Ryanair Dublin Airport.jpg

The results, which excluded Lauda, also reported strong traffic growth, up 7% to 139 million, but the airline said this was offset by a 6% decline in fare value.

Ancillary growth of 19% was also offset by higher fuel, staff and EU261 (compensation) costs, Ryanair said.

The airline’s chief executive Michael O’Leary said: “Short-haul capacity growth and the absence of Easter in Q4 led to a 6% fare decline, which stimulated 7% traffic growth to over 139 million.”

Revenues rose 6% to €7.6 billion.