Ryanair's Quarterly Profit Drops as Fares Decline Despite Largest-Ever Schedule of Routes

Benzinga

Ryanair's quarterly after-tax profit declined, with earnings falling from the previous year. Passenger traffic increased 10%, but the airline expects fares to be lower than anticipated over the next few months.

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00:00It's Benzinga, and here's what's on the block.

00:03Ryan Air's quarterly after-tax profit declined with earnings falling from the previous year.

00:08Passenger traffic increased 10 percent, but the airline expects fares to be lower than

00:11anticipated over the next few months.

00:13Ryan Air CEO Michael O'Leary cited weaker fares and the timing of Easter falling in

00:18the previous quarter as reasons for the profit decline.

00:21O'Leary said fares for the current period are expected to be materially lower than last

00:25summer, but the airline is operating its largest-ever schedule of routes.

00:29Ryan Air shares fell on the news.

00:31For all things money, visit Benzinga.com.

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