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Ryanair announces first annual loss

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Ryanair announces first annual loss

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Ryanair has recorded its first annual loss after having to write down the value of its stake in Aer Lingus. Not taking into account the 222 million euros it lost on Aer Lingus, Ryanair managed a profit of 105 million but that represents a 78 percent drop from the previous year. Sales had risen but were overshadowed by last year’s record fuel prices. The Irish budget airline said it expects to double profits next year by tempting more customers with lower prices.