Feb 4, 2019
Ryanair posts loss amid winter competition
Ryanair posted a net loss of €19.6m for the last three months of the year as fierce competition forced it to cut fares. The airline carried 32.7 million passengers compared with 30.4 million for the same period a year earlier as revenue rose 9% to €1.53bn. But the airline said "Excess winter capacity in Europe" cut its profit. Chief Executive Michael O'Leary has agreed a new five-year contract , the firm said. While higher oil prices and lower fares cut the firm's profitability, they were creating even bigger problems for rivals, Ryanair pointed out. Firms like Wow, Flybe and Germania are seeking buyers.
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