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Ryanair warns fares will remain 'soft' as first half profits fall 7%

Air
Jennifer Morris
22 October 2018

Ryanair has reported a 7% fall in profit after tax for the first half of its financial year to €1.20 billion – excluding Laudamotion losses.

The airline said average fares declined 3% due to excess capacity in Europe, an earlier Easter in Q1 and repeated air traffic control strikes and staff shortages, which it said caused a spike in cancellations of higher fare, weekend flights.

It added that higher fuel, staff and EU261 (compensation) costs had offset strong ancillary revenue growth – up 27%.

Traffic grew 6% to 76.6 million at a load factor of 96%.