Europe’s Ryanair reports 55-pct rise in Q2 profit

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Ryanair, Europe’s leading low-cost airline, on Monday reported a profit after tax of 397 million euros (462 million U.S. dollars) for the second quarter of this year, up 55 percent year on year.

But the dublin-headquartered airline said the outcome is distorted by the timing of Easter in Q1 with no holiday period in the prior year comparative.

Easter fell in April this year, but it was in March last year.

The airline said it still expects full-year profit to fall between 1.4 billion euros and 1.45 billion euros.

Ryanair said it remains concerned at the uncertainty which surrounds the terms of the UK’s departure from the European Union (EU) in March 2019.

“While we continue to campaign for the UK to remain in the EU Open Skies agreement, we caution that should the UK leave, there may not be sufficient time, or goodwill on both sides, to negotiate a timely replacement bilateral which could result in a disruption of flights between the UK and Europe for a period of time from April 2019 onwards,” the airline said.

In May, Ryanair said it reported a 6 percent increase in full year net profit to a new record of 1.3 billion euros.

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