Ryanair profits falls during the third quarter

Ryanair reported on February 6, a 8% fall in third quarter profits to €95 million, as average fares fell by 17% to just €33 per passenger. Traffic grew 16% to 29m customers during the period, however, with Q3 unit costs cut by 12% (ex-fuel unit costs were down 6%). “As previously guided, our fares this winter have fallen sharply as Ryanair continues to grow traffic and load factors strongly in many European markets,” said Ryanair’s CEO Michael O’Leary. “These falling yields were exacerbated by the sharp decline in Sterling following the Brexit vote.” O’Leary added that the airline had responded