May 20, 2019

Opening Quote: Low fares take their toll on Ryanair

A 6 per cent decline in fares over the past financial year was matched by a 7 per cent increase in passenger numbers, excluding Laudamotion, the Austrian airline Ryanair bought in December. Pre-tax profits for the year to March fell 30 per cent, excluding Laudamotion, or 40 per cent including the impact of the acquisition. Its financial year ends in July.Job moves. David McMillan has been appointed chief executive of esure, the insurer behind Sheilas' Wheels that was taken private last year in a £1.2bn deal. Brent crude climbed 1.3 per cent to $73.18 a barrel after Saudi Arabia's energy minister said inventories needed to shrink and that the kingdom would prefer Opec maintain output cuts in the second half of the year.

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