Irish LCC Ryanair reported a net profit of €243 million ($382 million) in the first quarter of the 2020 financial year, down 21% from €309 million in the year-ago period, as average fares declined 6% and costs rose. “The current weak fare environment has continued into the second quarter and we expect first-half fares to be down approximately 6%,” Ryanair said. The airline had already signaled it expected lower profits amid uncertainty over the UK’s protracted ...

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