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The article reports on the loss incurred by Dublin, Ireland-based Ryanair Holdings PLC for the 12 months ended March 31, 2009 due to increasing oil prices and writedown tied to its holding in Aer Lingus PLC. The carrier noted it has resumed hedging its future fuel needs and expects to cut its fuel bill in 2010. The net loss stood at €169.2 million, compared with a net profit of €390.7 million in the previous year.

The article reports on the possible 50% decline in profit of Dublin, Ireland-based Ryanair Holdings PLC in the next fiscal year due to high fuel costs and pressure on ticket prices from waning consumer demand. Ryanair chief executive officer (CEO) Michael O'Leary said he has no plan of slowing the company's aggressive rate expansion despite the challenging environment facing the European airline industry. The company has reported a 1% drop in net profit from €47.7 million in 2006 to €47.2 million in 2007.