Ryanair has revised its full-year profit guidance after reporting a drop in ticket prices for the first half of its financial year.
Average fares fell by 2% in the six months to September 30 although Ryanair achieved a 1% increase in profit for the period, to €602m.
However, fares have continued to fall this winter, which will lead to a reduction in Ryanair’s full year profit guidance from €570m to approx. €510m.
Unit costs rose 3%, largely due to a 7% increase in fuel prices.
Passenger numbers grew 2%, to 49 million, and revenue per passenger increased 2% due to a 22% rise in ancillary revenues.
Chief executive Michael O’Leary said: "We are pleased to report slightly increased H1 profits, particularly against a backdrop of softer fares this summer.
"Yields in Q3 have softened, which is good news for our customers and has led to strong growth in traffic (up 6% in October) and load factors (up 1%).
Ryanair also announced its will operate a fully-allocated seating system from February 1.
