Ryanair Set to Increase Summer Air Fares Amid Profit Decline

Ryanair has experienced a 16% decline in annual earnings as a result of reduced air fares to stimulate demand. Despite a 7% drop in average fares, the budget carrier saw a 9% increase in passenger numbers last year. However, the company anticipates a more modest growth of 3% in the upcoming year due to delays in Boeing aircraft deliveries. In response to the profit downturn, Ryanair has announced a sharp rise in fares for the approaching year, aiming for an increase of 'mid-high teen per cent' in the first quarter. The company acknowledges the challenges posed by external factors like tariff disputes, economic uncertainties, and potential conflicts, underscoring the unpredictability of the future landscape.