Ryanair’s First-Ever Seating Cut Marks End of Discount Boom

Ryanair Holdings Plc will cut capacity for the first time in its history next winter as fuel costs threaten to render dozens of routes unprofitable, ending decades of growth that made it Europe’s No. 1 discount airline.

Ryanair fell the most in 20 months in Dublin trading after Chief Executive Officer Michael O’Leary said he’d ground 80 of 300 jets and lay people off for the low season starting in October. Even with a 12 percent fare increase he forecasts net income no higher than last year’s 401 million euros ($563 million) -- or 18 percent less than estimated by analysts.