Airline 'cautious' on outlook
Ryanair posts 29% fall in profits on back of lower fares
Ryanair has delayed its order of Boeing aircraft
Irish airline Ryanair has reported a 29% slump in annual profits to €1 billion (£880 million in line with forecasts following a 6% fall in fares.
However, passenger numbers grew by 7% to 139m, representing a profit per passenger of £6.33, while revenue rose by 6% to €7.6bn. It said disruption caused by shortages of air traffic control staff cost it €50m (£44m).
The airline has delayed the delivery of its first five Boeing 737 Max aircraft to the winter season after two of the planes were involved in fatal crashes within months.
Ryanair said: “We continue to have utmost confidence in these aircraft which have four per cent more seats, are 16% more fuel efficient and generate 40% lower noise emissions.”
The company said it remains cautious on outlook. In the first half bookings are “slightly ahead” of last year and fares are lower. “We have zero H2 visibility,” the airline said.