Strikes bring down Ryanair's profits

Ryanair blamed pilots and cabin crew strikes for lower half-year profits this summer, but maintained its forecast for the year.

The airline announced a 7% fall in profits, to € 1.2bn (£ 1.06bn) for the six-month period ended September 30th.

General Manager Michael O 'Leary also highlighted the "worst summer of ATC [air traffic control] disturbances recorded ".

However, traffic increased by 6% and its planes were 96% full.

Average fares fell by 3% to € 46, but incidental income – such as luggage and seat reservation fees – jumped 27% to € 1.3 billion.

Earlier this month, Ryanair warned that its profits for the full year would be 12% lower than previous forecasts, ranging between 1.1 and 1.2 billion euros.

It recorded a record after tax profit of 1.45 billion euros for the fiscal year ended March 31.

"This year-round forecast remains heavily dependent on the fact that air fares continue to fall – they remain low this winter due to excess capacity in Europe – [and] the impact of the significant rise in oil prices on our uncovered exposures, "added O. Leary.

He said that the airline's cost advantage over its competitors is broadening and that "the consolidation would create growth opportunities for Ryanair's lowest / best fare model." ".

The airline has been criticized over the weekend for apparently failing to remove a passenger from a plane after racially abusing a woman over 70 years old.