Ryanair loses altitude but O’Leary retains his cheek | Nils Pratley

Last year’s 13% profit margin was pedestrian by Ryanair’s standards

It was cheeky of Ryanair chief executive Michael O’Leary to declare that full-year profits of €1.02bn (£0.9bn), down 29%, were “as previously guided”. He updates his guidance every few months so that, by the time of the big reveal, it’s hard to miss. The past year still included two profits warnings, let’s not forget.

Related: Ryanair profits slide due to lower fares and Brexit uncertainty

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Ryanair loses altitude but O’Leary retains his cheek | Nils Pratley