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Ryanair: Net profit drops

Ryanair published Monday half-tone annual results, marked by a fall in its net profit. For the year ended March 31, the Irish company posted a net profit of 1.02 billion euros, down 29% year-on-year.

The first European group in the number of passengers carried is thus “cautious” for the current year and forecasts a slight decrease in this profit, which could reach between 750 and 950 million euros.

The group’s share fell by 4.53% to 10.31 euros at the Dublin Stock Exchange after the publication of the results. Ryanair is suffering the consequences of increased competition on the European sky as well as lower ticket prices. Its average fares fell by 6% to 37 euros.

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