The king of cheap flights sees profits drop due to expensive fuel, plans savings

Ryanair reported a 6% decline in after-tax profit for Q2, totaling €1.61 billion, impacted by rising fuel costs and consumer hesitance due to Middle East conflicts. The airline plans cost-cutting measures, including reviewing airport contracts and potentially reducing crew numbers. Despite a 4% increase in revenue to €5.70 billion, operational costs rose by 10%, leading to a 15% drop in net profit for the first half of the financial year. The average ticket price also fell by 2%.