Ryanair profits for the quarter to June fell by 46% to €360 million after suffering 10 days of multiple flight delays and cancellations.
A 20% year-on-year rise in passenger carryings to 55.5 million was offset by Easter falling into the previous quarter and “weaker than expected” air fares.
Average fares were down 15% to €41.93 from €49.07 a year earlier and will remain “materially lower” during the peak summer months.
Quarterly revenue dropped by 1% to €3.63 billion.
The increase in traffic was despite delays in the delivery of new Boeing aircraft which resulted in 20 fewer new B737s added to the fleet than had been planned.
Group chief executive Michael O’Leary admitted that peak summer demand was strong but pricing “remains soften than we expected” with fares predicted to be “materially lower” than last year.
He also said: “In the last 10 days of June we suffered a significant deterioration in European ATC [air traffic control] capacity which caused multiple flight delays and cancellations, especially on first wave morning flights.”
He urged the European Commission to deliver “long delayed reform of Europe’s hopelessly inefficient ATC services”.
O’Leary added: “This can be achieved by properly staffing of Europe’s ATC services and protecting over-flights during national strikes which would deliver revolutionary environmental improvements in EU air travel.”
The group has had to extend operating leases for three Airbus A230s for Austrian arm Lauda to help handle a record summer schedule with more than 200 new routes.
“We will also continue to take delivery of B737s through August and September even though we will be unable to schedule these aircraft for peak summer flights,” O’Leary said.
He forecast European short-haul capacity to to remain constrained “for some years” due to Airbus aircraft engine recalls, delivery backlogs and European airline consolidation.
Ryanair’s annual traffic is now projected to rise by 8% to 200 million passengers “subject to no worsening Boeing delivery delays”.