Modest growth sparks Ryanair fear of Brexit

IRISH no-frills airline Ryanair posted yesterday a slight increase in first-quarter net profits, but warned that Brexit could impact its annual earnings. Earnings before taxation rose 4 per cent to €256 million ($281 million) in the three months to the end of June, Ryanair said. Turnover meanwhile grew 2 per cent to €1.68 billion in the reporting period. Ryanair noted its performance was hit by “ongoing market volatility arising from terrorist events, and repeated air traffic control strikes”, as well as the weakness of the pound after the Brexit vote.