Ryanair full year profit down 29%; delays delivery of 737 aircraft

Ryanair’s  full year profit has fallen 29% year on year to €1.02 billion from €1.45 billion in the previous year. The results come even though the airline posted strong traffic growth, up 7% to 139 million. Ryanair is blaming a fall in fares, which fell 6%, higher fuel and staff costs as well as EU261 compensation claim costs. The airline group has issued a cautious warning regarding profit for the year to come. Ryanair also wrote down the cost of the acquisition of Lauda, which became a wholly owned subsidiary of the Ryanair Group. Although Ryanair has consolidated three million customers