Jul 24, 2017

Ryanair warns of airline fares war this summer

Ryanair says it could cut fares by as much as 9% on some routes as competition in the airline industry intensifies in the next few months. Competition was growing as airlines switched capacity from Turkey and North Africa, Ryanair said. The comments came as Ryanair reported a 55% rise in quarterly profits. The average fare during the quarter rose 1% to 40.3 euros, although Ryanair said this was a blip due to the much stronger Easter trading. The airline said it expected fares to fall by 5% in the six months to the end of September and by 8% in the six months to the end of March 2018.

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