Ryanair has reported a 4% rise in Q1 profit to €256m, as traffic grew 11% to 31m while average fare fell 10% to €39.92, offset by a 9% reduction in unit costs. “This modest 4% increase in Q1 profit to €256m is in line with previous guidance,” said Ryanair’s Michael O’Leary. “The absence of Easter in Q1 and on-going market volatility arising from terrorist events, and repeated ATC strikes (particularly in France) weakened fares on close-in bookings and caused almost 1,000 flight cancellations. We remain committed to our load factor active/yield passive strategy which is why Q1 fares fell 10%

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