Ryanair forced to slash ticket prices as profits nosedive by almost half amid soaring air fares

PROFITS at Ryanair nosedived by almost half in the last three months as passengers baulked at soaring air fares.

Europe’s biggest airline spooked the travel sector yesterday by revealing falling sales had forced it to slash ticket prices by 15 per cent compared to last year — meaning profits fell 46 per cent to £303million for the last quarter.