In its results for the third quarter, released today, the airline reported that profits fell 8% from €103 million to €95 million for the same period last year.
Meanwhile average fares fell by 17% to €33 per passenger, while traffic grew 16% to 29 million customers.
The low cost carrier said Q3 unit costs were cut by 12%.
Chief executive Michael O’Leary said: “As previously guided, our fares this winter have fallen sharply as Ryanair continues to grow traffic and load factors strongly in many European markets.
“These falling yields were exacerbated by the sharp decline in sterling following the Brexit vote.
Ryanair's 8% profit fall 'exacerbated' by sterling decline post Brexit vote
Air
Jennifer Morris
6 February 2017
Ryanair claims the “sharp decline in sterling” following the Brexit vote “exacerbated” its 8% profit fall in Q3.
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