Ryanair lost £8.8million in the fourth quarter of 2010 due to ongoing air traffic control strikes and the snow disruption in December. The low cost airline was forced to cancel over 3,000 flights during the last three months of the year. Ryanair still managed to increase its passenger numbers by 6% to 17 million and the company stated it was still on target to report profits of between £320 million-£342 million for the full year. With fuel reaching $100 a barrel this week, Ryanair is pleased it has secured a hedge of $72 a barrel for 80% of its oil

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