Ryanair Holdings plc (RYA.L) Monday reported profit before tax of 2.067 billion euros for the first half, lower than 2.459 billion euros in the same period a year ago, primarily impacted by lower air fares.

"Total H1 revenue rose 1% to €8.69bn. Scheduled revenue fell 2% to €5.95bn. The move of half Easter into PYQ4 and out of Q1, consumer spending pressure (driven by higher-for-longer interest rates and inflation reduction measures) and a drop in OTA bookings ahead of S.24 necessitated more price stimulation than

originally expected (with Q1 fares down 15% & Q2 down 7%) as Ryanair maintained its 'load active/yield passive' pricing policy," said Ryanair CEO Michael O'Leary.

Net profit declined to 1.791 billion euros or 1.59 euros per share from 2.178 billion euros or 1.90 euros per share last year.

Operating profit decreased 17 percent to 2.015 billion euros from 2.416 billion euros in the a year ago.

Revenue for the period, however, grew 1 percent to 8.692 billion euros from 8.575 billion euros in the previous year.

For the first half, traffic increased 9 percent to 115 million, while load factor remained at 95 percent.

The company's Board has declared an interim dividend of 0.223 euros per share, to be paid in late February 2025.

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