May 21, 2018

Ryanair reports soaring profits but warns of headwinds

Ryanair has reported record annual results, despite it having to cancel thousands of flights in September due to problems with pilots' rotas. The Irish airline said profits rose 10% to €1.45bn, despite the wave of bad publicity. It warned higher costs would make the year ahead more difficult. Ryanair said it expected to carry 7% more passengers in the coming year, but said costs would rise by 9%, including staff costs and the oil price. Last year, mismanagement of pilots' rotas led to about 20,000 flights being cancelled.

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