Ryanair warns of lower prices due to higher profits
Ryanair reported its earnings for the last quarter and warned competitors that it was going to cut the price of flights, Reuters reported. According to Ryanair CFO Neil Sorakhan, the airline’s revenue grew by 55% in 3 months, which makes it possible to reduce the cost of tickets by up to 9%.
The most expected rate of decline in prices is 8% over the next 6 months.
The airline’s profit for the period April-June 2017 amounted to 397 million euros instead of the projected 366 million. Ryanair’s annual profit for the financial year will be approximately 1.5 billion euros.
We remind you that Ryanair was supposed to start flights from Ukraine as early as the fall of 2017, but since it was not possible to reach an agreement with Boryspil airport, negotiations with Ukrainian airports are continuing.