Ryanair reported a €118.8 million ($152.1 million) net loss for the fiscal third quarter ended Dec. 31, a sharp reversal from the €47.2 million earned in the year-ago period, owing primarily to a 71% increase in fuel costs and a 9% decline in average fare. CEO Michael O'Leary called the loss "disappointing, but in line with expectations," and remained upbeat about the future. "The longer and deeper this recession, the better it will be for the lowest cost producers in every ...

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