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.
Category
🗞
NewsTranscript
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.