Ryanair hit by high fuel prices

Ryanair has warned it could make an annual loss of up to 60 million euros (£47.4m) if oil prices stayed high and it continued cutting fares.

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The budget carrier said net profits in the three months to the end of June had fallen by 85% to 21m euros - below analysts expectations. The soaring price of jet fuel, combined with customers cutting back on flying, has seen many airlines struggle.

Full Story: Ryanair hit by high fuel prices

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