Ryanair’s profit fell 15% to €2.15 billion in the first fiscal half, covering the period from April to September, the low-cost airline announced on Monday.
The Irish carrier attributed the decline mainly to higher fuel prices and lower airfares. The impact came despite a 6% increase in passenger traffic, which reached 125.8 million passengers during the period.
Ryanair said the average ticket price fell 4% to €55.70. Meanwhile, the cost of fuel not covered by hedging operations—around 20% of the company’s total fuel requirement—doubled to approximately $130 per barrel.
Sources: Observador.