Irish no-frills airline Ryanair said net profit dropped six percent in its second quarter as the Middle East war drove up fuel costs and impacted ticket prices, Reuters reports.
Profit after tax fell to 1.61 billion euros ($1.8 billion) in the three months to the end of September, from 1.72 billion euros one year earlier, the Dublin-based carrier said in a statement.
Ryanair, which is Europe’s biggest airline by passenger numbers and flies mainly across the continent, said the cost of fuel not subject to advance purchase agreements had soared owing to the US-Iran war.
