By Pierre BertrandRyanair cut its outlook for second-quarter fares after earnings in the first three months of its fiscal year fell on lower ticket prices and a decline in passenger-generated revenue. Ryanair, which earlier this month said passenger traffic grew 11% in June, flew 55.5 million passengers in the quarter, a 10% on-year increase. Despite that increase, Ryanair's fares declined 15% in the quarter while revenue per passenger fell 10%. Though demand for travel was strong so far in its second quarter, pricing was still softer than expected, Ryanair said. Load factor, a measure of how full its planes are, slipped to 94% from 95% a year ago, Ryanair said.

Source: Wall Street Journal July 22, 2024 05:44 UTC