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Ryanair slides into loss

Dublin - Ryanair fell into an expected loss during its third quarter as lower fares and an unfavourable exchange-rate offset rising passenger numbers, the Irish no-frills airline said on Monday.

The airline reported a loss after tax of €35.2m ($47.5m) in the three months to the end of December. That contrasted with net profit of €18.1m in the same period a year earlier.

"Our third-quarter loss of €35m is in line with previous guidance and is entirely due to a 9.0% fall in average fares and weaker sterling" against the euro, Ryanair chief executive Michael O'Leary said in the group's earnings statement.

Ryanair's share price however jumped as the Dublin-based carrier said it did not expect full-year net profit to come in any lower than €500-520m - an estimate made last November in a shock profit warning.

It had previously forecast earnings at the lower end of a €570-600m range.

Ryanair is meanwhile seeking to soften its much-criticised public image of being a company that is lacking in good customer service.

It recently simplified its online booking process and launched a new homepage after customers regularly complained about the confusing and long procedure.

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