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    Ryanair profits drop due to fuel prices and fare cuts

    6 days ago

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    Ryanair reported a 34% decrease in after-tax profits to €538 million for the quarter ending June. The decline was attributed to soaring jet fuel prices, which doubled due to the Iran conflict, and a 6% drop in average fares. Despite a 6% increase in passenger numbers, operating costs rose 11% to €3.42 billion.
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