The Irish discount carrier's first-quarter profits after tax plummeted by 46% to €360 million compared to the same period a year ago. Still, that increase hasn't translated into higher profits. Lower fares are why the budget airline, offering double-digit tickets, has struggled.
Ryanair saw a 15% drop in airfares amid rising operating costs, denting overall profitability. Easter falling into the earlier quarter and fiscal year, along with 'materially lower' Q2 fares, added to the profit dip.
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