Ryanair third-quarter net falls 27% as competition hurts prices4 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.