Ryanair cuts back on UK flights

RYANAIR will start cutting flights from the UK later this year and instead focus on growth at EU airports following the Brexit vote.

The budget airline is on course for a 12 per cent rise in annual profit to about 1.4 billion euros (£1.17billion) but warned of “significant risks to the downside”.

It lifted first-quarter profit by 4 per cent to £214million as passenger numbers grew 11 per cent to 31.2 million and its planes flew 94 per cent full. Average fares fell 10 per cent to under £33.50 and are expected to drop at least 6 per cent in the second quarter.

Chief executive Michael O’Leary said: “This winter we will cut capacity and frequency on many London Stansted routes.”