Ryanair to go on the offensive to reverse a fall in profits

No-frills airline Ryanair has reported its first fall in profits for five years. But it’s hoping a charm offensive will persuade passengers to part with more of their money.

It's been a busy few days for budget-airline reporting. Last Tuesday, EasyJet(LSE:EZJ) said it made a pre-tax loss of £53m in its half-year results. And today, Europe's biggest no-frills airline, Ryanair (LSE: RYA), announced its full-year results.

The last few months have clearly been tough on both airlines. Higher fuel costs and a weaker pound have been the main contributors to the heartache. Ryanair's fuel bill (which counted for 46% of the airline's total operating costs) rose 7% to just over €2bn in the year to March.

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Chris Carter
Wealth Editor, MoneyWeek

Chris Carter spent three glorious years reading English literature on the beautiful Welsh coast at Aberystwyth University. Graduating in 2005, he left for the University of York to specialise in Renaissance literature for his MA, before returning to his native Twickenham, in southwest London. He joined a Richmond-based recruitment company, where he worked with several clients, including the Queen’s bank, Coutts, as well as the super luxury, Dorchester-owned Coworth Park country house hotel, near Ascot in Berkshire.

Then, in 2011, Chris joined MoneyWeek. Initially working as part of the website production team, Chris soon rose to the lofty heights of wealth editor, overseeing MoneyWeek’s Spending It lifestyle section. Chris travels the globe in pursuit of his work, soaking up the local culture and sampling the very finest in cuisine, hotels and resorts for the magazine’s discerning readership. He also enjoys writing his fortnightly page on collectables, delving into the fascinating world of auctions and art, classic cars, coins, watches, wine and whisky investing.

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