Bad weather brings loss for Ryanair

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Ryanair has reported a loss for the final three months of last year after it was forced to cancel more than 3,000 flights

Budget airline Ryanair has reported a loss for the final three months of last year after it was forced to cancel more than 3,000 flights.

Chief executive Micheal O’Leary said the carrier had been expecting to break even in the third quarter but reported a net loss of 10.3 million euro (£8.5 million), compared with a deficit of 10.9 million euro in the previous year, as strikes and severe weather grounded its aircraft.

However, a 15% rise in average fares to 34 euro (£29), a surge of 20% in ancillary revenues, such as in-flight sales of refreshments and entertainment, and a 6% hike in passenger numbers helped offset the impact of strikes in Europe and heavy snowfall in the UK.

The airline faced a 37% rise in its third-quarter fuel bill but Mr O’Leary said the group was on course to hit full-year net profits at the upper end of its forecast range of between 380 million euro (£325 million) and 400 million euro (£340 million).

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