Ryanair cuts prices due to the sharp growth in profit

Ryanair снижает цены из-за резкого роста прибыли

Ryanair profit for the three months amounted to 397 million euros

The low-cost airline managed to increase profit by 55%.

Irish budget airline Ryanair reported a growth in quarterly net profit, warned of a sharp reduction of tariffs, reports Reuters.

So, growth in quarterly profits of the company amounted to 55% on the background of the rise in average prices by 1% in annual terms in connection with a later than last year, Easter.

Ryanair has already warned rivals that in the coming months may reduce tariffs to 9% in annual terms.

“It’s a competitive market. Rates may be reduced to 7, 8, maybe even 9%,” said Ryanair Finance Director Neil Sorahan.

He added that the decline in rates in annual terms is likely to amount to an average of 8% for the six months ending March 31, 2018.

Profit after tax for the three months ended in June amounted to 397 million euros, while analysts on average were expecting the figure of 366 million euros.

As reported Корреспондент.netpreviously, Ryanair has canceled a planned market entry in Ukraine. The company noted that the airport Borispol was on the side of airlines with high fares, including MAU, and has deprived Ukrainians of the access to cheap tickets.

Before it became known that the Cabinet of Ministers want to resume talks with Ryanair about flights to Ukraine, and will also assess the previous talks. Later the same information was confirmed Borispol airport.