Turbulence takes toll on Ryanair’s annual result
Ryanair’s full-year profits have fallen 29 per cent to €1.02 billion (£890 million).
The Iris h low- cost carrier saw traffic growth of 7 per cent and a decline in fares of 6 per cent in the year to 31 March.
Michael O’ Leary, the airline’s out spoken chief executive, said he was expecting “broadly flat group profits” into the financial year ending in 2020, when its rep or ting will include Lauda in the consolidated Ryanair Group, but this is dependent on “no negative Brexit developments”.
The group also said it had delayed the delivery of five Boeing 737-Max aircraft until winter, with no meaningful cost benefit from the delivery expected until the financial year ending in 2021.
It said: “We continue to have utmost confidence in these aircraft which have 4 per cent more seats, are 16 percent more fuel efficient and generate 40 per cent lower noise emissions.”
The 737- Max aircraft has been temporarily grounded following two accidents.