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Ryanair half-year profits fall

Ryanair half-year profits fall

It was a turbulent first half for Ryanair (RYA) following ongoing pilot disputes and air traffic controller strikes in continental Europe. In early October, management warned that pre-tax profits would land between €1.1bn (£97m) and €1.2bn – a 12 per cent downgrade on previous expectations. Investors were pleasantly surprised, then, that this figure actually came to €1.3bn, with the shares up around 5 per cent on results day. Passenger numbers increased by 6 per cent to 76.6m with load factor maintained at 96 per cent, although the average fare fell 3 per cent to under €46.

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