Ryanair first-quarter profits fall 21pc

 
Suzie Neuwirth

RYANAIR today posted a 21 per cent fall in first-quarter profits to €78m (£67.3m), due to higher fuel costs and the timing of Easter.

The budget airline said that average fares fell four per cent during the period, but revenue per passenger grew one per cent.

Ryanair expects yields to rise in the second quarter but remains cautious in its full-year outlook, “as market conditions are tough with recession, austerity, high fuel costs, and excessive government taxes impacting air travel demand and yields.”

Full-year guidance remains unchanged at between €570m to €600m.