Ryanair expects lower fares but reports record profits

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Ryanair expects its fares will fall further this year, although the drop will be less steep than in 2016.

The airline said fares would fall by between 5% and 7% in the year to the end of March 2018, down from a fall of 13% in the past financial year.

Europe’s largest carrier by passenger numbers also reported a record annual net profit of 1.316bn euros, up 6%.

But the carrier warned that Brexit and the risk of terror attacks in Europe remained a threat to its business.

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