Ryanair's Q1 profits dropped 46% due to lower fares, with Q2 fares expected to be lower than last summer.
Ryanair reported a 46% fall in profits to €360 million in Q1 due to lower air fares, reflecting a trend that nearly halved profits during April and June. Ryanair's CEO, Michael O'Leary, said that while Q2 demand is strong, pricing remains softer than anticipated, and Q2 fares are expected to be lower than last summer. Analysts have reduced their full-year net income estimates for Ryanair by 15%.
July 22, 2024
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