Ryanair expects fares to continue to fall, although at a slower rate than last year.
In its full-year financial results published today, the airline said fares will decline 5 – 7 per cent in the 12 months to March 2018. The previous year fares dropped 13 per cent.
Despite a drop in the cost of prices, Ryanair reported a 6 per cent rise in net profit of €1.316bn (£1.142bn). Revenues rose by 2% to €6.6bn (£5.7bn) as passenger numbers increased 13% to 120 million.
Ryanair said it expects an 8 per cent increase in 2018 net profit as it warned of continued negative impacts of Brexit.
The Irish carrier said in the “absence of certainty or direction” from the government on Brexit, it will “pivot growth away from the UK in 2017 and 2018” as it looks to capitalise on the growth in Europe.
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