Ryanair says fares to fall 7% this year as profits surge

Ryanair says it expects its average fare to fall by 7% this year as it cuts prices to boost its market share amid intensifying competition.The cuts came as the budget airline reported a 43% rise in net profit to €1.2bn for the full year to the end of March, just short of analyst forecasts.
Revenues rose 16% to €6.5bn for the year.
Disruption following the Brussels terror attacks, as well as lower airfare prices due to the falling oil price, hit fourth quarter profit, it said.