Ryanair's profit is soaring

Ryanair's net profit decreased by 15% in the first half of the financial year due to rising fuel costs. CEO Michael O'Leary indicated potential cost-cutting measures, including a temporary halt on employee pay raises. Despite the challenges, the airline's revenue rose by 3% to €10.08 billion, with a net profit of €2.15 billion, aligning with analyst expectations. Fuel prices have doubled, contributing to a 10% increase in operating costs to €7.69 billion. Average ticket prices fell by 4%, while passenger traffic grew by 6%, totaling 125.8 million passengers. The airline forecasts a 3% increase in passenger numbers for the current financial year, reaching 214 million.