Ryanair released rather weak Q3 results because fares are decreasing faster than unit costs. The decrease in fares has been fed by Ryanair’s strategy which is to fill its aircraft with a 2pts increase in the load factor to 95%. This battle for market share should be beneficial to Ryanair in the long term but will impair profits after tax this year. Also, the company has maintained its full-year guidance but warns that it is dependent on the absence of headwinds in Europe.
