Ryanair’s Summer of Strife Dents Profits
Photo Credit: A Ryanair aircraft. The airline has suffered a difficult financial quarter. Flickr / Andrew Thomas
Skift Take
It's been a difficult few months for Ryanair, with many of its problems showing no sign of abating. Still, Ryanair remains in robust financial health. And if fuel prices keep rising and capacity doesn't fall, we should expect it to come out on top.
Ryanair has endured a pretty torrid summer with air traffic control strikes, increasing fuel prices and overcapacity in the European aviation market each taking their toll.
Pre-tax profits fell 22 percent to $404 million (€345 million) in the first quarter of its financial year and many of the problems affecting the airline are not likely to go away quickly.
Still, Ryanair remains in a better position than most to absorb the costs of a more competitive operating environment.
In the first quarter of its financial year, Ryanair flew 37.6 million passengers, an increase
