{"id":8594,"date":"2019-07-29T08:01:16","date_gmt":"2019-07-29T12:01:16","guid":{"rendered":"http:\/\/irishexaminerusa.com\/wp\/?p=8594"},"modified":"2019-07-30T11:02:29","modified_gmt":"2019-07-30T15:02:29","slug":"ryanair-profits-fall-by-21-due-to-lower-fares-and-higher-costs","status":"publish","type":"post","link":"https:\/\/irishexaminerusa.com\/wp\/?p=8594","title":{"rendered":"Ryanair Profits Fall by 21% Due To Lower Fares and Higher Costs"},"content":{"rendered":"

\"\"Ryanair has reported a 21% fall in profits to \u20ac243m in the first quarter of this financial year.<\/p>\n

The low-cost airline cited lower fares and higher costs for fuel and staff as reasons for the decline.<\/p>\n

Chief executive Michael O\u2019Leary said: \u201cThe two weakest markets were Germany, where Lufthansa was allowed to buy Air Berlin and is selling this excess capacity at below cost prices, and the UK, where Brexit concerns weigh negatively on consumer confidence and spending.\u201d<\/p>\n

The airline said its average fares fell 6% during the quarter, but this was partially offset by 14% higher ancillary revenue, such as baggage, food and other extras.<\/p>\n

The forecast for profits after tax for the year remains unchanged at between \u20ac750 and \u20ac950m<\/p>\n

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