Both Ryanair and Air France-KLM have announced worse than expected figures with Ryanair suffering a 29% decline in profits with fuel hedges and FX blamed, but CFO Howard Millar pointed more than once in his announcement to the fact that people have less money to spend. Ryanair has for many years made all of its money away from the aircraft seat price and that strength is now a weakness as passengers curb their enthusiasm for add-ons. Ryanair has resisted wholesale increases in seat prices but with a fuel hedge and the euro weighing it down it may have little choice

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