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February 08 | Ryanair
profits drop 25% in 1 year |
Ryanair have announced that
they have had a huge 25% profit drop within one year.
The low cost airline has said that it is due to mainly the
increased cost of aviation fuel from the high oil prices, the
weak pound and general slow economy.
The chief executive Mr Michael O'Leary admits that he can also
see no improvement for the next 2 years.
Speaking on the BBC he said that the airline industry was
heading for 'the perfect storm' due to the rising fuel prices
and recession. Mr O'Leary also blasted the new security
rules at airports, "Lipstick is now the new weapon of mass
destruction", he said.
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