2015-11-02 18:00

Ryanair Says Winter Looking Tougher After Record Summer

Ryanair Chief Executive Michael O'Leary. Reuters /Albert Gea
Ryanair Chief Executive Michael O'Leary. Reuters /Albert Gea
Ryanair Holdings Plc said record summer passenger bookings will give way to a tougher winter as rival carriers add capacity, boosting competition and weighing on fares during the weakest period for travel.

Ticket prices that rose 2 percent in the summer will be “broadly flat” this quarter and could fall 4 percent in the January-March period, the Dublin-based carrier said Monday, adding that the decline will help drive sales.

Profit after tax jumped 41 percent to 843 million euros ($930 million) in the second quarter ended Sept. 30, and Ryanair said full-year earnings will be at the top end of forecasts. Analysts had predicted three-month earnings of 837 million euros, based on the average of six estimates compiled by Bloomberg.

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