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Ryanair third-quarter net falls 27% as competition hurts prices

4 February 2008

Ryanair Holdings Plc, Europe’s biggest discount airline, said profit declined for the first time in seven quarters as increased competition hurt ticket prices. Higher fuel costs and a possible European consumer slowdown may slash earnings next fiscal year.

Net income in the fiscal third-quarter through December fell to 35 million euros ($52 million), or 2.35 cents a share, from 48 million euros, or 3.09 cents, a year earlier, Dublin-based Ryanair said today by e-mail. Analysts had predicted a profit of 35.6 million euros. Sales rose 16 percent to 569 million euros.

source: Bloomberg

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