Ryanair Profit Exceeds Estimates; Fares Set to Climb
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Ryanair Holdings Plc, Europe’s largest discount airline, reported a quarterly profit that beat analysts’ estimates and forecast fares may rise by as much as 15 percent in the current period.
Net income for the first quarter ended June 30 fell 24 percent to 93.7 million euros ($122 million) after plumes of volcanic ash shut European airspace in April and fuel costs rose, the Dublin-based carrier said today. Sales gained 16 percent to 896.8 million euros.