Ryanair Profit Retreats 21% on High Fuel Costs

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July 29 (Bloomberg) -- Bloomberg News' Kari Lundgren reviews first-quarter results from Ryanair and breaks down the issues that caused a 21 percent drop in profits. She speaks on Bloomberg Television's "The Pulse."

The other two things that were causing a little bit of a fall were the easter holidays in the previous quarter and the same quarter last year.

They lost revenue and profits from that, which they normally would have had.

They had all of these strikes in france that caused the cancellation of hundreds of flights, about 100,000 passengers lost.

Although those have to be put up in hotels and compensated.

That was another thing that weighed on the earnings.

I guess the outlook was a little bit better.

You are saying that these are one offs.

They were flagging up very different things like the fact that it is so nice and sunny that people were traveling much.

They saw a big bump after the olympics and everyone started booking tickets.

Their outlook for the year is cautious.

Every analyst knows that they are very cautious and are likely to beat their own estimates that they put out, about 570 million pounds for net income.

It will be interesting to see how the year pans out.

Both they and easyjet are capitalizing on network carriers retrenching and trying to take advantage of that.

Thank you so much for that . terry lundgren with the latest.

Bmw is taking on tesla in the market for electric cars with the release of the new i3 model today.

Wes -- tesla's plant to produce lower-priced cars will put it into direct competition with the german automaker.

Guy johnson is in london for a hands-on demonstration.

Nothing like getting hands-on with the product.

That is exactly what we are going to see now.

This text has been automatically generated. It may not be 100% accurate.

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