{"id":3578,"date":"2018-10-22T08:27:01","date_gmt":"2018-10-22T13:27:01","guid":{"rendered":"http:\/\/irishexaminerusa.com\/wp\/?p=3578"},"modified":"2018-10-22T08:27:01","modified_gmt":"2018-10-22T13:27:01","slug":"ryanair-profits-fall-7-in-first-half-of-2018","status":"publish","type":"post","link":"https:\/\/irishexaminerusa.com\/wp\/?p=3578","title":{"rendered":"Ryanair Profits Fall 7% in First Half of 2018"},"content":{"rendered":"

\"\"Ryanair has reported a 7% fall in profits for the first half of the year.<\/p>\n

The budget airline said on Monday that average fares declined 3% due to excess capacity in Europe, an earlier Easter in the first quarter, and repeated strikes and staff shortages which caused a spike in cancellations of higher fare, weekend flights.<\/p>\n

Ryanair said profits dropped to $1.38 billion on September 30 2018, from $1.48 billion (\u00a31.14bn) on September 30, 2017 \u2013 a 7% change.<\/p>\n

The airline\u2019s chief executive, Michael O\u2019Leary, said: \u201cAs recently guided, H1 average fares fell by 3%. While ancillary revenues performed strongly, up 27%, these were offset by higher fuel, staff and EU261 (compensation) costs.<\/p>\n

\u201cOur traffic, which was repeatedly impacted by the worst summer of ATC (air traffic control) disruptions on record, grew 6% at an unchanged 96% load factor.\u201d<\/p>\n

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