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| Ryanair profits drop for the first time in five years | Ryanair profits drop for the first time in five years |
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| Airline Ryanair's full year profits have fallen for the first time in five years. | Airline Ryanair's full year profits have fallen for the first time in five years. |
| Net profit fell to 523m euros for the year to March, down from 569m euros in the previous year. | Net profit fell to 523m euros for the year to March, down from 569m euros in the previous year. |
| The firm issued two profit warnings in the last year, citing intense price competition from rivals. | The firm issued two profit warnings in the last year, citing intense price competition from rivals. |
| However, the company said it expects to boost its passenger numbers by 4% in the coming year to over 84.6 million people. | However, the company said it expects to boost its passenger numbers by 4% in the coming year to over 84.6 million people. |
| The company expects to have strong summer bookings, but that fares in the coming winter may fall between 6% and 8%. | |
| Ryanair chief executive Michael O'Leary said the firm had "worked hard to improve customer experience" in the past year. | Ryanair chief executive Michael O'Leary said the firm had "worked hard to improve customer experience" in the past year. |
| During the year, the firm stepped up efforts to hang on to existing customers and to gain new ones by introducing measures such as allocated seating and cuts to excess baggage fees. The carrier also started to allow people to bring a small, second carry-on bag. | |
| In November Ryanair's shares took a dive after it issued a second profit warning. | |
| It said fares had been falling because of "increased price competition, softer economic conditions in Europe and the weaker euro-sterling exchange rate". |