Ryanair profits drop for the first time in five years

[viking9]

Airline Ryanair's full-year profits have fallen for the first time in five years. Net profit fell to 523m euros ($717m; £426m) for the year to March, down from 569m euros in the previous year. The firm has issued two profit warnings in the past year, citing intense price competition from rivals. However, the carrier said it expected to boost its passenger numbers by 4% in the coming year to over 84.6 million people. It also expects profits in the current financial year to rise by 10-20%, helped by strong levels of bookings for the summer.

http://www.bbc.co.uk/news/business-27465993

Not the loss the doom-mongers forecast then!