Ryanair's first quarter profit after tax of 360mn was well below market expectations as ticket prices dropped. The outlook is bleak, with anticipated reduced prices during peak summer travel. This may have ripple effects in the wider sector, impacting competitors like easyJet, although the scale remains uncertain.
Ryanair's disappointing performance caused a 12.5% drop in shares at the beginning of trading. This update also influenced British Airways' owners, IAG, with a 3.3% decrease, while EasyJet faced even more significant losses of over 7%, placing them at the bottom of the blue-chip index.
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