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Ryanair plots the fall of Europe – 20pct cut in fares planned

Ryanair unveiled a 31% reduction in second-quarter profit (slightly worse than market expectations), but reaffirmed it is confident of breaking even in the full year (ending 31-Mar-09). It previously predicted potentially deep losses for the full year. The fall in profits largely reflects a 4% fall in yields and a doubling of its fuel bill in the first half.

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