DUBLIN, July 22 (Bernama-dpa) -- Irish low-cost airline Ryanair reported a first-quarter profit of €360 million (US$391 million) on Monday, marking a 46 per cent decline from the previous year, according to German news agency dpa.
Operating costs rose by 11 per cent to €3.26 billion compared to the previous year, while revenue slightly decreased by 1 per cent to €3.63 billion from last year's €3.65 billion.
Traffic grew 10 per cent to 55.5 million customers from the previous year's 50.4 million customers, despite multiple Boeing delivery delays.
Meanwhile, average fares were down 15 per cent to €41.93.
Load Factor dropped 1 percentage point to 94 per cent from 95 per cent a year ago.
Looking ahead, the company expects fiscal 2025 traffic to grow 8 per cent from the previous year to 198 million to 200 million passengers, subject to no worsening Boeing delivery delays.
The company said, "While Q2 demand is strong, pricing remains softer than we expected, and we now expect Q2 fares to be materially lower than last summer," compared to previous view of flat to modestly up fares.
-- BERNAMA-dpa
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