Ryanair's announced fiscal first quarter profit of €21 million ($32.7 million) did not include a €93.6 million writedown in the value of its stake in Aer Lingus nor €17.9 million in accelerated depreciation on 15 aircraft scheduled for disposal during the 2009-10 fiscal year. As a result, the actual result for the three months ended June 30 attributable to equity holders was a steep €90.5 million loss. The company's operating profit was €7.9 million, down from ...

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